ASEAN-JAPAN COMPREHENSIVE ECONOMIC PARTNERSHIP AGREEMENT COMES INTO EFFECT

JAKARTA, Dec 2 (Bernama) -- The Asean-Japan Comprehensive Economic Partnership Agreement (AJCEP) takes effect Monday.

In a statement here Monday, Association of South-East Asian Nations (Asean)
secretary-general, Dr Surin Pitsuwan, said Asean members and Japan signed the
agreement on Apr 14 this year.

Surin said the agreement would benefit Japanese investors operating in
Asean
countries and the Asean supporting industries.

"The AJCEP will enable more goods and services to reach Asean and Japanese
consumers at lower prices through tariff reductions, thereby contributing to
their standard of living," he said.

He said commemorate the occasion, the first AJCEP joint committee meeting
was held at the Asean secretariat.

"It was co-chaired by assistant secretary, Philippines Department of Trade
and Industry, Ramon Vicente T. Kabigting, and Ambassador Extraordinary and
Plenipotentiary from Japan, Jun Yokota.

"The officials from Asean member states and Japan discussed issues relating
to the entry into force and implementation of the AJCEP agreement," he
said.

Surin said the entry into force of the AJCEP agreement was a significant
development given the financial and economic turmoil unfolding in the global
economic system.

"It will provide a strong impetus for further invigoration of trade and
investment in the region," he said.

Surin said the agreement was another feather in the cap for the strong
Asean-Japan dialogue relations.

"East Asia is now building its own economic community block by block. This
trade agreement with Japan constitutes one such block for the envisaged East
Asian community," he said.