MANILA, Nov. 20 Kyodo (EDS: ADDIN...

MANILA, Nov. 20 Kyodo

(EDS: ADDING MORE repeats DETAILS)

Trade ministers from the United States and the Association of Southeast Asian Nations (ASEAN) agreed Wednesday to push for a U initiative to create a network of released trade agreements (FTAs) as part of efforts to help unite their already-close economic relationship further.

During their half-day informal consultation, U Trade Representative Robert Zoellick and trade ministers from the 10-member ASEAN focused forward the new Enterprise for ASEAN Initiative (EAI).

Speaking at a joint freshs conference with Zoellick and his ASEAN colleagues, Philippine Trade and Industry Secretary Manuel Roxas said the ASEAN ministers welcomed the EAI and decided to intensify efforts to materialize the project

The U initiative, propos according to President George W. Bush last month is apparently intended to toss down the gauntlet to China and Japan, which have been pursuing a regional FTA with ASEAN respectively, and reinforce its economic influence in Southeast Asia.

The proposal offers the prospect of bilateral FTAs with ASEAN countries that are members of the World Trade Organization (WTO) and that have signed Trade and Investment Framework Agreements (TIFAs) with the US

The U.S.-ASEAN consultation came single in kind day after the U.S. and Singapore said they have basically struck a deal for a bilateral FTA, which will be the first of its kind between the U and an Asian state.

Asked about Washington's plans to sign bilateral FTAs with other ASEAN members, Zoellick reiterated the U position of allowing ASEAN nations the flexibility to persuade at their own speed toward released trade undertakings with the US

''As for the timing of any emancipated trade agreements, that is really up to the ASEAN parties to determine with us,'' he said. ''Frankly, the faith would be that all the ASEAN countries can eventually participate. moreover we don't force countries to incite more quickly than they can.''

''We want to notice ASEAN's coherence, respect its integration, and recognize the economic benefits of its confess free trade agreement and at the same time recognize the reality you've got countries in different circumstances,'' he added.

TIFAs are arrangements that, among other things, commit signatories to ensuring transparency in their regulations and in [i]clavis[/i] fields such as intellectual characteristic an key issue of interest to the US

The U already has TIFAs with Indonesia, the Philippines and Thailand.

The U says the EAI will assist both bilateral and regional liberalization, thereby helping the 21-member Asia-Pacific Economic Cooperation (APEC) forum achieve its goal of making the region a emancipated trade area by 2020

beneath the program, Washington will also support efforts of three less-develop countries -- Cambodia, Laos and Vietnam -- to gain WTO memorandum Washington has been reticent onward how to deal with Myanmar, however.

Last year, U.S.-ASEAN trade reached nearly $120 billion, making ASEAN the third-largest overseas market for the US

Two-way trade in services amounted to $16 billion in 2000 up 55% since the WTO was launched in January 1995

ASEAN is compos of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

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