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Japan:
Second India-Japan strategic dialogue on economic issues
China:
India-Brazil-South Africa to cooperate in health sector
South Korea:
South Korea Gives US Beef The All Clear
India:
Indian government approves re-structured APDRP
Pakistan:
Restoration of Indo-Pak dialogue to push trade
Singapore:
India-Brazil-South Africa to cooperate in health sector
Thailand:
Fastest Growth for Thailand Economy in Six Quarters
Taiwan:
Taiwan Enjoy Expanded Trade Surplus
Indonesia:
Central Bank Chief Of Indonesia Detained
Malaysia:
Malaysia economy grows and banking liberalises
Japan In Prelim Trade Agreement With ASEAN
by Stewart DouglasJapan has today announced that it has come to an agreement with the Association of South East Asian Nations (Asean) that would see free trade between the member states.
The economic body comprised of delegates from Asean member states, accounts for a significant proportion of bi-lateral trade with Japan, and would see the region turn virtually into a free trade zone.
Japanese Prime Minister Shinzo Abe has been heavily involved in negotiating worldwide trade agreements over the last few months, in a bid to increase trade with Japan in order to boost economic growth and improve Japan’s standing as a world economic force.
After agreeing several similar pacts over recent weeks with individual Asian nations, Japan has been seen to be making a concerted effort to stem the rising threat from neighbouring giant China, which has experienced astonishing growth over the last few years.
And with talks of Japan looking to form trade alliances with Australia, the UK and the US over the coming months, analysts are predicting this may cause political, as well as economic unrest in the region.
The agreement, provisionally signed off by Asean delegates yesterday, could come in to full force by November this year, and would see the vast majority of trade tariffs on trade with Japan and member states nullified to allow the free movement of goods and services.
Along with the specific arrangement agreed yesterday, the Asean area is proposed to be a completely free trade area by 2015, operating in the same way as trade throughout the European Union.
The framework for free trade across the region was backed by Asean members yesterday, which will see measures to cut existing barriers to trade throughout member states reduced and reigned in over the coming few years.
Also on the agenda was the issue of manufacturing quality standards and safety, discussed by the Asean delegates yesterday.
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