A key European Union trade official desires to begin negotiations on a miles-reaching free trade agreement with the Association of Southeast Asian Nations, or ASEAN. The comments were made at a business summit between EU and Asian officials Sunday within the lead-as much as this week's ASEAN summit in Cambodia.
European Union Trade Commissioner Karel De Gucht is urging closer economic ties between the european and the 10-member ASEAN bloc. During a conference of EU and ASEAN officials Sunday, De Gucht urged delegates to make "concrete progress" on negotiations for a free trade agreement between both regions.
"We want a comprehensive, 21st-century free trade agreement between our two regions," said De Gucht, "It may tackle the entire range of barriers that obstruct flows of products, services and investment between our regions. And that suggests not just eliminating tariffs, but additionally tackling regulations that block trade in goods and services, improving the security of intellectual property rights, and securing access to markets for presidency procurements, all within a legally binding framework."
De Gucht says the ecu Union will soon begin negotiations on a bilateral trade cope with Vietnam. The E-U has already started discussions with Singapore and Malaysia. But De Gucht says the goal is to strike a free trade agreement with the ASEAN bloc as a complete.
This year's summit comes amid the continuing European financial crisis. De Gucht spent much of his speech Sunday assuring ASEAN leaders that the worst of the issues are over. Fifteen years ago, the location was reversed, with Asian economies locked in financial turmoil.
In his speech, ASEAN Secretary-General Surin Pitsuwan threw a gentle-hearted jab at his European counterparts.
"In 1997, Europe told us, put your property so as," said Pitsuwan. "This time, we attract Europe, put your home so as."
Trade between the 2 regions is very important. ASEAN as an entire is the european's third largest trading partner, while the EU is ASEAN's second largest. Surin says these vital economic ties must grow to form a buffer against future financial challenges.
"It's where both the business communities in ASEAN and the ecu must engage themselves to mitigate the results of those new dynamics, through trade, through investment, through technology, to further elevate our partnership, our cooperation and our connectivity, in order that more opportunities may be created and more businesses may be able to benefit from our partnerships and to relieve or reduce the uncertainties inside the two regions," said Pitsuwan.
While officials from ASEAN could be on board with negotiating a free trade agreement with the ecu, opinion would be divided at the region's hot button internal issues. The most ASEAN summit kicks into full gear this week, when it's expected some members will try to raise the thorny issue of competing claims over the South China Sea.
From WhatNewsToday.net
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