MANILA, Aug 22: Southeast Asian economic ministers will finalise a blueprint for economic cooperation in the region and push free trade deals with six dialogue partners at a weekend meeting in Manila, Philippine officials said on Wednesday.
The 10-member Association of Southeast Asian Nations (Asean) would prioritise free trade pacts with Japan, China, South Korea, Australia, New Zealand, and India as talks with these six dialogue partners have already started, Philippine Trade Secretary Peter Favila told Reuters.
There was “substantial progress” in discussions for a free trade agreement (FTA) with Japan, Favila said.
“Let’s finish first what’s on the table. We also have to manage expectations of stakeholders, the community,” Favila said regarding free trade talks.
“We want to proceed in an orderly fashion so let’s finish one FTA at a time.” Favila added that discussions for an FTA between the regional grouping and the European Union and the United States have been deferred for now to give way for conclusion of trade talks with the six dialogue partners.—Reuters
