FRIDAY, SEPTEMBER 13, 2002
Asean sees free trade with China by 2010 or 2012
REUTERS
BANDAR SERI BEGAWAN, Brunei: Southeast Asian nations have set two alternative targets for completing a free-trade zone with China, one a year earlier than originally planned and one a year later, Thailand said on Thursday.
By either 2010 or 2012 the Association of South East Asian Nations and China will have removed barriers to the $1 trillion annual trade between them, Thai Deputy Minister of Finance Suchart Chaovisit said on Thursday.
Last year the southeast Asian association and China agreed to create the free-trade area within 10 years.
"That (the completion date) is going to be year 2010 or 2012," Suchart told reporters.
He was speaking after economic ministers from the 10-member association officially opened their annual talks, with the challenge of China high on the agenda.
"Our country (Thailand) and Singapore...we would like to finalise the ending date as soon as possible - because everything is moving very fast now," Suchart said, without elaborating on the views of other association members or China.
Suchart said there was a chance for an "early harvest" in which Asean-China trade in farm products would be liberalised before others.
"The starting date of early harvest seems to be no problem next year: 2003, something like that," he said.
Manufactured products could also be included, but the list would depend on bilateral negotiations with China, he added.
Opening Thursday's meeting, the Sultan of Brunei stressed the need for political determination to put southeast Asian countries on the map as attractive investment destinations.
"Political will is needed, as we strive to consolidate our position as a region of dynamic economic growth. Without it, we risk falling behind other regions in economic progress," said Sultan Hassanal Bolkiah.
A report prepared last year by officials from the association and China identified trade in oil and gas, food, natural-resource based products, electronics, electrical goods and tourism as among the sectors offering most opportunity for expansion.
In 2000, Asean-China trade hit just $39.5 billion but promised much more to come based on an annual average growth rates of 20 percent throughout the 1990s.
Asean groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam -- countries spanning a huge range of wealth and poverty.
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