The Economic Ministers of ASEAN met with the representative of China, S Korea and Japan to discuss and review the ongoing negotiations to upgrade their respective ASEAN+1 trade treaties. ASEAN and China presented the progress made in implementing the ASEAN-China free trade agreement (FTA), which went into effect in 2010, and were pleased to note that both sides had agreed to its updating.
ASEAN and South Korea grew to USD135bn in 2013, and welcomed the progress currently being made in further liberalizing the ASEAN-South Korea Trade in Goods FTA, which originally went into force in 2007.
At the same time, ASEAN-Japan representative express that they continue to enhance their comprehensive partnership agreement, which was first completed in 2008, “through broadening and deepening areas of mutual interest,” including trade in goods, trade in services and investment.
