The Jakarta Post, Nusa Dua, Bali
The Association of Southeast Asian Nations (ASEAN) and Japan signed the Framework for Comprehensive Economic Partnership (CEP) on Wednesday to minimize barriers and deepen economic linkages between ASEAN and Japan.
The Framework for CEP was jointly signed by ten heads of states of ASEAN member countries and Japan Prime Minister Junichiro Koizumi during the ASEAN-Japan Summit here in Nusa Dua.
In the framework of cooperation, ASEAN and Japan agreed to start consultation on the ASEAN-Japan CEP on the liberalization of trade in goods, services and investment, from the beginning of 2004.
In the press conference, Japanese Prime Minister Junichiro Koizumi reiterated that cooperation was moving forward steadfastly. "There should be a trilateral study, including on the possibility of a trilateral investment agreement, and the possibility of further consultation with the other leaders," Koizumi said.
ASEAN-Japan made a joint declaration during the ASEAN-Japan Summit in Phnom Penh, Cambodia, to implement measures for the realization of a Comprehensive Economic Partnership (CEP), including elements of a possible Free Trade Area (FTA), which should be completed as soon as possible within a maximum period of 10 years.
ASEAN and Japan have conducted a number of studies on the immediate implementation of activities such as technical assistance and capacity building for ASEAN, particularly for the newer ASEAN member states.
Other activities include trade and investment promotion and facilitation measures; trade and investment policy dialogue; business sector dialogue, and the compilation and exchange of relevant data, such as on customs tariffs and bilateral statistics.
ASEAN and Japan have also decided to hold consultations from the beginning of 2004 on facilitation in the field of trade related procedures, business environment and intellectual property rights.
Other areas of cooperation include energy, information and communications technology, human resources development, small and medium enterprises, tourism and hospitality, transportation and logistics.
On liberalization, ASEAN and Japan will start consultations on the ASEAN-Japan CEP on the liberalization of trade in goods, services and investment from the beginning of 2004 by discussing the basic principles of the ASEAN-Japan cumulative rules of origin and customs classification, and the collecting and analyzing of trade and customs data.
For ASEAN member states that are not yet members of the World Trade Organization (WTO), Japan will continue to apply general Most-Favored Nation (MFN) status.