Japan suggests 16-state FTA in Asia
Una, Tokyo
Japan will officially propose establishing a 16-nation free trade area (FTA) in the Asian and Oceania regions during a ministerial meeting of the Association of Southeast Asian Nations (Asean) and its partners, scheduled in Kuala Lumpur, Malaysia, in late August.The 16 countries include the 10 Asean members and Japan, China, Republic of Korea, India, Australia and New Zealand. In April, Japan's Economy, Trade and Industry Minister Toshihiro Nikai unveiled an idea of launching FTA talks in 2008 among the 16 countries. Individual FTA talks are already under way between Asean and its six neighbours. The Japanese-envisioned FTA will be based on those current efforts, Trade Ministry officials said. Japan will also call for setting up a policy coordination body in Asia, which will be modeled after the Organisation for Economic Cooperation and Development (OECD), in order to promote regional economic integration, according to the Kyodo News.
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