Time to think of a bigger FTA

A giant Free Trade Area (FTA) including China and the member states of Association of Southeast Asia Nations (ASEAN) will be established Friday. The new China-ASEAN FTA was initiated seven years ago on Nov 4, when China and ASEAN signed a framework agreement in Phnom Penh. It will definitely impact the prospect of economic development in Asia and even the world profoundly.

Against the background of the founding of the largest FTA in Asia, it is high time to think about envisioning an Asian-wide trade community.

Regional integration, a trend across the globe in the last two decades, usually starts from trade integration: FTA or common market first, then integration in the financial and monetary fields, and finally in the high political areas such as security. The best path of integration in Asia should begin in the economic front, too.