[asia-apec 353] ASEAN to boost EU trade

[daga]

Leaked draft document puts focus on economic co-operation
Asean to boost EU trade
Duncan Hughes in Singapore
South China Morning Post
February 14, 1997

Projects designed to boost trade and investment between Southeast Asia and
Europe are revealed in a leaked copy of the draft joint declaration to be
announced at the end of a ministerial meeting today.

The proposals from the Association of Southeast Asian Nations (Asean)-EU
ministerial meeting closely follow previous declarations by the two trading
partners, but they will serve as the latest high-level statement to develop
growing economic ties.

In the declaration, member states back the view that regional trade blocs
will enhance global trade so long as they embrace the spirit and procedures
of the World Trade Organization (WTO).

It says the WTO will continue to play a central role in ensuring a more open
rule-based international trading system.

The declaration reaffirms member states' commitment to implementing the
Uruguay Round agreements.

It states: "Asean and the EU are among the most dynamic economic regions in
the world today. The EU is the world's largest trading entity, while Asean
is one of the fastest growing regions in  the world. This provides a sound
basis for dynamic economic co-operation."

A ministerial meeting today is expected to finalise the declaration, but it
is also likely to set the framework for additional measures.

The declaration describes the potential for expanding trade as "tremendous"
and gives an undertaking to boost awareness of business opportunities
amongst their respective business communities.

It also calls on member states to minimize impediments to inter-regional trade.

These measures include:

        - Sharing information about regional experiences. The EU is
implementing the Single Market and Asean is implementing the Asean Free
Trade Area;

        - Improving customs co-operation;

        - Extending the EU-Asean patents and trademarks programme of
co-operation; and

        - Adopting compatible structures, standards and conformity
assessment procedures.

The ministers agreed additional liberalisation of investment conditions
would increase investment flows.

Governments have undertaken to improve contacts between Asian and European
business by facilitating networking and dissemination of information.

They also announced the formation of an agency that will aim to link small
and medium-sized businesses backed moves to set up an industrialist roundtable.

The document states: "As economic links strengthen, the role of the private
sector will become more vital. Asean and the EU are committed to working
towards the encouragement of private-sector initiatives which will
facilitate greater co-operation."