Economy
ASEAN-China FTA bearing fruit: official
(Xinhua)
Updated: 2010-04-29 15:19
SINGAPORE: The Association of Southeast Asian Nations (ASEAN) effort in engaging pro-actively with China in free trade agreement (FTA) is bearing fruit, an ASEAN official said on Thursday.
He said that ASEAN has positioned itself well for the boom in China and India being their FTA partners as the growth pole shifts to East Asia, adding that ASEAN will grow along with these economic giants and strengthen trade and investment ties.
He said that the growing middle class in China will demand more goods and services, where ASEAN will gain first comer advantage to supply.
"If you want to get into a FTA, you will of course input competition," Pushpanathan said, noting that ASEAN should continue to improve its competitiveness edge to leverage on the FTA.
The ASEAN-China FTA took effect on Jan 1, 2010.
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