Ministers of ASEAN, regional partners agree to start FTA talks

Economic ministers from the 10-member Association of Southeast Asian Nations (ASEAN) and its six regional partners met in the Cambodian resort Siem Reap on Thursday and agreed to launch negotiations for a region-wide free trade agreement. The negotiations would commence early next year, aimed for completion by the end of 2015, according to guiding principles that were agreed on at the ministerial meeting. The free-trade pact involving the 16 countries — the 10 ASEAN members plus China, Japan, South Korea, India, Australia and New Zealand — is designed to liberalize trade in goods, services and investment in the region.