Кто владеет информацией,
владеет миром

Free Trade Area for 1,9 Billion People Has Been Created

Free Trade Area for 1,9 Billion People Has Been Created

On January, 1st, 2010 free trade area China - АSЕАN officially started functioning.

Free trade area - type of international integration when countries-participants cancel customs duties, taxes and tax charges as well as quantitative restrictions in mutual trade. It is deeper type of integration, than preferential agreements.

Each country-participant reserves the right to independent and free definition of a trading mode in relation to the third countries. In most cases conditions of free trade area extends to all goods. Free trade area can be co-ordinated by small interstate secretary located in one of country-members but usually there's no necessity in it and key parametres of their development countries co-ordinate at periodic meetings of the heads of corresponding departments. Customs borders still exist between countries-participants as well as the posts supervising origin of goods crossing their frontiers.


From editorial board: Association of South East Asian Nations - ASEAN - regional organisation of countries of South East Asia. It is formed in 1967. It includes 10 countries (Indonesia, Malaysia, Singapore, Thailand, Philippines, Brunei (1984), Vietnam (1995), Laos (1997), Myanma (1997), Cambodia (1999)).


Population of free trade area China - АSЕАN makes 1,9 billion people, volume of its gross national product - almost 6 billion American dollars, total trading volume - 4,5 trillion dollars.


According to experts, creation of a new free trade area which is presented both by developed and developing countries will help them to overcome by joint efforts consequences of a world economic crisis.


Secretary General АSЕАN Surin Pitsuvan in recent interview to journalists declared that economy of China and АSЕАN is characterized by big complementarity, free trade area will bring benefits to both parties. Besides, East Asia will play a role of locomotive in economic restoration in global scale, creation of free trade area China-ASEAN will promote prompt exit of world economy from crisis shade.

Paul Basanets 

Hong Kong  

Читайте также:
In other::