Countries in East Asia that are parties to, or in the process of negotiating, one or more free trade arrangements not only with countries within the region but outside the region as well, are looming to take the “hub and spoke” characteristic -- for example, ASEAN-China (2010), ASEAN-Japan (2012), and ASEAN-Korea, and Japan-Singapore (2002) and Japan-Philippines. Whether ASEAN would be the hub or spoke remains to be seen.
Malaysian Prime Minister Abdullah Ahmad Badawi on Friday said a free trade agreement with China will be signed by 2013, and that Malaysia's exports to China surged 25 percent to a record high last year.
Thailand intends to focus more on increasing regional trade links since bilateral deals with the US and European nations may take years to complete, according to Thai officials.
The Philippines-US Trade and Investment Council (TIC) recently held a bilateral consultation. The Philippine panel was informed during the TIC that the US Trade Representative will soon publish the results of a study on the prospects of an ASEAN-US FTA.
A Comprehensive Economic Cooperation Agreement (CECA) between India and Singapore has been signed on the 29th June in New Delhi by the Prime Ministers of two countries.
The Association of Southeast Asian Nations is said to be on track to achieve a zero-tariff regime by 2015, a key ingredient for its ambitious plan to create a single market and production base by 2020.
China and the Association of Southeast Asian Nations (ASEAN) are taking a tangible step towards creating the world's most populous free trade area (FTA).
The implementation of a free trade agreement (FTA) between China and the Association of Southeast Asian Nations (ASEAN) will negatively affect South Korea's export competitiveness, a private trade promotion body said Tuesday.