CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

ASEAN economic integration to boost regional growth

06-22-2010 13:44 BJT

KUALA LUMPUR, June 21 (Xinhua) The systematic economic integration within ASEAN, together with the region's enhanced engagements with its dialogue partners, is expected to lead the region on the sustained economic recovery and growth in 2010, according to a report released Monday by Malaysia government.

The establishment of ASEAN Free Trade Area as well as the implementation of ASEAN Trade in Goods Agreement and other free trade agreements will also boost intra-ASEAN trade and investment flows, Malaysian International Trade and Industry (MITI) said.

In its 2009 report released here on Monday, MITI said that the business community in the region must understand how the free trade area and agreements work in order to reap benefits from the arrangements.

Since January 2010, six ASEAN countries comprising Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand have become a free trade area, whereby duties on all products flowing among these countries in the inclusion list were eliminated.

ASEAN has undertaken various efforts to simplify clearance of goods at the border and increase intra-ASEAN trade.

A work plan has also been drawn up to implement self- certification on the rules of origin by early 2012.

MITI said that Brunei, Indonesia, Malaysia, Singapore and Thailand were committed to removing all non-tariff barriers by 2010, while the Philippines by 2011 and Cambodia, Laos, Myanmar and Vietnam by 2018 in order to boost intra-regional trade.

Although faced with the global financial crisis in 2008 and 2009, MITI said that ASEAN had remained steadfast in its commitment to achieve the vision of an ASEAN Economic Community by 2015.

In 2009, ASEAN total trade in goods dropped by 10.5 percent to 1,521.3 billion U.S. dollars in 2009 from 1,711.3 billion U.S. dollars in 2008.

Editor:Du Xiaodan |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program