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ASEAN, NZ and Australia talk on trade integration

29/06/2011    140

The inaugural seminar of the Integration Partnership Forum of ASEAN, Australia and New Zealand was held on Saturday in the Malaysian capital of Kuala Lumpur to discuss the benefits of regional economic integration and multilateral trade deals.

The forum which was initially proposed by New Zealand Prime Minister John Key in discussions with ASEAN leaders last October. It was further developed by Key and Australian PM Julia Gillard in February this year.

The one-day seminar included presentations from senior figures in government, business and academia from Australia and New Zealand.

The new forum will share the Trans-Tasman experience of Closer Economic Relations (CER) with senior ASEAN officials responsible for ASEAN regional integration, said a joint press statement from the embassies of Australia and New Zealand in Ha Noi.

“CER has certainly been a Trans-Tasman success story, and this forum offers a valuable opportunity for New Zealand and Australia to share their experience with the countries of ASEAN,” Tim Groser, New Zealand Trade minister, said in the statement.

“The building of a stronger and more prosperous ASEAN – a market of around 600 million people – will enable member nations to better take advantage of regional and global economic opportunities,” he said.

Since CER was launched in 1983, total two-way trade in goods and services between Australia and New Zealand has grown at an average annual rate of 7.8 per cent. In the same period, total two-way investment has grown at an average annual rate of 15.9 per cent.

Australian Trade Minister Craig Emerson said regional economic integration was fundamental to fostering opportunities for businesses and the wider population. — VNS

June, 28 2011 09:46:20

Source: vietnamnews.vnagency.com.vn

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