Liberalization of ASEAN trade, markets sought

Liberalization of ASEAN trade, markets sought

LOS ANGELES (AFP): Secretary of State Madeleine Albright said
yesterday she will press Southeast Asian nations to liberalize
their trade and financial markets.

Speaking to the Pacific Council and Los Angeles World Affairs
Council, Albright said she will enlist the Association of
Southeast Asian Nations (ASEAN) for help "in reaching a worldwide
agreement this year to liberalize financial services."

Albright, who was on her way to meet ASEAN foreign ministers
in Kuala Lumpur, said she will also press for "better enforcement
of intellectual property rights, greater transparency in
government procurement and higher standards against bribery and
corruption."

"It is in our interest to encourage ASEAN to continue opening
up markets and liberalizing trade," she said in remarks prepared
for delivery Wednesday evening.

She said that the U.S. administration wants Congress to pass
"fast-track" legislation, as this would help "open up critical
sectors of the global economy" to US interests.

The legislation would bar Congress from amending trade
agreements, forcing lawmakers to approve or reject agreements as
negotiated.

"From a foreign policy perspective, I consider fast-track to
be among our highest legislative priorities," said Albright.

Albright is scheduled to attend meetings from July 26 to 29
of the ASEAN regional forum followed by a ministerial conference
on security issues.

ASEAN groups Brunei, Indonesia, Malaysia, the Philippines,
Singapore, Thailand and Vietnam, and admitted Myanmar and Laos
Wednesday.