MikeLigalig.com

by pna
The 20th ASEAN Summit which was held here on Monday and Tuesday discussed the continuation of free trade consolidation with the region`s six trading partners, Indonesian Trade Minister Gita Wirjawan said.

Indonesia was appointed to lead the process of formulating the free trade agreement, he said on the sidelines of a plenary session of the ASEAN Summit here on Tuesday.

As a follow up to the process, ASEAN member states agreed to set up a working group, he said.

"The working group will be set up soon," he said.

Earlier, at their 19th ASEAN Summit held in the Indonesian resort island of Bali, ASEAN member states agreed on the formation of a Regional Comprehensive Economic Partnership framework with the region`s six trading partners -- Australia, New Zealand, Japan, South Korea, China and India.

The ASEAN leaders were aware of the need to involve the six trading partners in the effort to increase economic integrity and cooperation based upon common interests, transparency and best practices.

The agreement will be implemented under the principles set by ASEAN in the field of trade, investment and other fields, Director General of International Trade Cooperation at the Trade Ministry Iman Pambagyo said.

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