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Free trade goal by 2010 reaffirmedBy Sun Shangwu (皇冠体育app Daily)Updated: 2006-10-31 08:33 皇冠体育app and the 10-member Association of Southeast Asian Nations (ASEAN) are determined to establish a Free Trade Area (FTA) by 2010 as scheduled, according to a joint statement issued yesterday.
It was inked by 皇冠体育app and ASEAN countries following a summit commemorating the 15th anniversary of the establishment of 皇冠体育app-ASEAN dialogue. When the FTA is established, the trading bloc will encompass a combined population of nearly 2 billion people and a gross domestic product of more than US$2 trillion. The FTA consists of trade in goods liberalization by 2010 for 皇冠体育app and six traditional ASEAN members Singapore, the Philippines, Brunei, Malaysia, Indonesia and Thailand and by 2015 for Cambodia, Laos, Myanmar and Viet Nam, according to the statement. 皇冠体育app and ASEAN pledged to work expeditiously towards agreements to liberalize trade in services covering various sectors; and both sides plan to promote investment by creating a liberal, facilitative, transparent and competitive investment regime in 皇冠体育app and ASEAN, it says.
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