Australia Still Pressing For FTA With ASEAN Countries ff
8 October 2002
Malaysia Australia reiterated Monday its wish to have a free trade agreement (FTA) with the 10-member Association of Southeast Asian Nations (ASEAN), even as ASEAN forges ahead on integrating its economy with China's.
''We will be happy to talk about bilateral free trade agreements with other ASEAN countries on top of Thailand and Singapore, but you know our ultimate objective is to have full free trade agreements with ASEAN,'' Australian Foreign Affairs Minister Alexander Downer said. ''It's our view that this would be very much to ASEAN advantage. We are obviously a developed economy and a very substantial economy, the 12th largest economy in the world...Therefore, there is great (linkage) between the ASEAN economy and the Australia economy,'' he said.
As ASEAN moves toward dismantling tariff barriers among themselves through the ASEAN Free Trade Area scheme and forging an FTA with China, Australia has reason to be concerned of being marginalized from the region economically.
The ASEAN economic block comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
''I think it presents great opportunity for Australia. We are much in favor of greater economic integration among ASEAN countries and between countries in the region,'' Downer said.
At present, Australia only has forged a ''closer economic relation'' agreement with ASEAN, which allows it to participate in economic dialogues with the grouping. But bilaterally, Australia is negotiating an FTA with Singapore that Downer said will be concluded next month. An FTA deal with Thailand is also in the pipeline.
