Japan seeks deal with ASEAN

Japan seeks deal with ASEAN

TOKYO (Dow Jones): Japan will seek comprehensive agreements with members of the Association of Southeast Asian Nations (ASEAN) in a wide range of areas in advance of World Trade Organization (WTO) negotiations on market liberalization next year, the Nihon Keizai Shimbun reported Monday that government sources said.

Foreign Minister Masahiko Komura will announce the appeal at the Asia-Europe Meeting scheduled later this month.

Japan hopes that joining hands with the European Union and the ASEAN will enable a challenge to U.S. trade dominance of the quadrilateral trade ministers meeting set for early May.

Japan and the European Union have already agreed on various proposals for the next round of WTO talks, including anti-dumping measures, investment rules, tariffs on manufactured goods, services and agricultural products. There is concern, however, that expanding the arrangements could lead to more disadvantages in trading for developing nations.