ASEAN Summit for Asians

2009-10-22 16:49:23 - India and ASEAN signed a Free Trade Agreement in August on trade of goods,further focus of the sides to ink a similar pact in the field of services and investment.

N K Sagar reports in Sagar Global consultant website that in the Thailand's central resort town of Cha-am Hua Hin, an historical Asian event is all set to gear up the cooperation for free trade which consists of more than 40 % of global trade and better undertsanding amongst the half of the population of the world.Asian tigers Indonesia,Malaysia,Thailand along
with Brunei, Cambodia, Laos, Myanmar, the Philippines, Singapore,and Vietnam needs to widen their trade for which talks to be followed with Australia, China, India, Japan, New Zealand and South Korea to match upcoming economy with high tech group of the areas with huge potential of the market ahead.

On 26 August 2007, ASEAN stated that it aims to complete all its free trade agreements with China, Japan, South Korea, India, Australia and New Zealand by 2013, in line with the establishment of the ASEAN Economic Community by 2015.
Free Trade Agreement with the ASEAN regional block of 10 countries and New Zealand and its close partner Australia was signed, February 27, 2009.

When the AFTA agreement was originally signed, ASEAN had six members, namely, Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand. Vietnam joined in 1995, Laos and Myanmar in 1997, and Cambodia in 1999.

ASEAN Vision 2020, adopted by the ASEAN Leaders on the 30th Anniversary of ASEAN, agreed on a shared vision of ASEAN as a concert of Southeast Asian nations, outward looking, living in peace, stability and prosperity, bonded together in partnership in dynamic development and in a community of caring societies.
ASEAN Charter serves as a firm foundation in achieving the ASEAN Community by providing legal status and institutional framework for ASEAN. It also codifies ASEAN norms, rules and values; sets clear targets for ASEAN; and presents accountability and compliance.

The ASEAN Charter entered into force on 15 December 2008. A gathering of the ASEAN Foreign Ministers was held at the ASEAN Secretariat in Jakarta to mark this very historic occasion for ASEAN.

With the entry into force of the ASEAN Charter, ASEAN will henceforth operate under a new legal framework and establish a number of new organs to boost its community-building process.

Naresh Sagar
Phone: 9810974027


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