Commerce official pushes East Asia FTA

09:22, March 02, 2011      

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East Asian nations should not tarry over the creation of a free-trade area (FTA) to help economic recovery, a Chinese official said Tuesday.

Yu Jianhua, assistant commerce minister, said the conditions for an FTA were optimal as trade relations among countries in the region were becoming increasingly integrated. China, Japan and South Korea have all inked FTAs with ASEAN, and talks for a FTA between the three nations are set be completed by 2012.

After the conclusion of studies toward a China-South Korea FTA in 2010, four ASEAN work teams have begun researching the possibility of an East Asia-wide FTA.

"The ongoing economic integration has provided a rare opportunity for the establishment of the East Asia FTA, and relevant talks should be started no later than 2012," Yu said.

Source: Global Times
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