ASEAN pledges to ratify FTA with Japan soon

Hanoi (VNA) - Economic ministers of the Association of Southeast Asian Nations on August 26 pledged to work for the speedy ratification of an economic partnership agreement with Japan that is expected to take effect before the end of this year.

The ministers said in a joint statement issued after their annual meeting
in Singapore that they resolved to ratify the ASEAN-Japan Comprehensive
Economic Partnership, Japan 's first FTA with a regional bloc, as soon as
possible.

A senior Philippine official was quoted by Kyodo news as saying that the
pact will come into force on October 1, based on the fact that the agreement
will be activated on the first day of the second month after Japan and
at least one of the 10 ASEAN members completes domestic procedures to ratify
it.

It was endorsed by the Japanese parliament in June. Singapore has also
ratified it.

The accord with ASEAN is not only an FTA for goods but also covers services
and investment. It will enable Japanese companies that are expanding their
markets in Southeast Asia to cut trade costs.

ASEAN groups Brunei , Cambodia , Indonesia , Laos , Malaysia ,
Myanmar , the Philippines , Singapore , Thailand and Vietnam
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