Southeast Asian countries hope to conclude free-trade talks with six major trading partners, including China, Japan and Australia, by 2013 but would avoid any new negotiations amid the frenzy of the work ahead, a top official said yesterday.
The Association of Southeast Asian Nations (ASEAN)'s free-trade efforts have overwhelmed members, with some falling short on obligations under existing pacts, and sanctions being proposed.
ASEAN economic ministers and their Japanese counterparts struck a breakthrough on Saturday with an agreement on major elements of a proposed free-trade deal, which could be signed as early as November, officials said.
A free-trade deal with South Korea can be completed next year, followed by Australia and New Zealand in 2009. Negotiations with China could end in 2010, and India in 2011, ASEAN Secretary-General Ong Keng Yong said.
"Essentially by 2013, all these free-trade agreements... should be completed," Ong said at a news conference, adding that the plethora of accords would complement ASEAN's plan to transform the region into a booming European Union-style economic community by 2015.
With its resources and a battery of negotiators strained by the flurry of talks, ASEAN would delay entering into new ones but was studying if it could squeeze in talks with Turkey, Ong said. The negotiations have given ASEAN "a very heavy burden," Ong said. "What we believe we should do is to complete what we have on our table as soon as possible."
ASEAN's worry appears to be about more than just logistical limits. In a confidential report to ASEAN's economic ministers, Ong recommended a moratorium in new free-trade talks to allow the bloc to assess their impact on ASEAN.
Free-trade accords being pursued by Asian economic powerhouses could overshadow ASEAN and shift economic benefits from the bloc, Ong said in the report.
(China Daily via agencies August 27, 2007)
