Senior trade officials from the Association of Southeast Asian Nations (ASEAN) agreed Sunday to launch negotiations with Australia and New Zealand on creating a free trade zone. Officials from the 10-member group said they would recommend that negotiations on a Free Trade Agreement (FTA) begin in 2005 and conclude in 2007. "The ministers agreed that a free trade area among themselves would promote growth and development and increase living standards throughout the region," a joint statement said. ASEAN officials agreed with representatives from Japan and South Korea on Saturday to start talks on FTA's, and discussed progress on their planned FTA with China in 2010. Sunday was the final day of the 36th ASEAN Economic Ministers meeting. Before meeting with representatives from Japan, China, Korea, India, Australia, New Zealand, the European Union and the U.S. over the weekend to discuss liberalizing trade and furthering economic cooperation, ASEAN ministers met to discuss ways to increase cooperation within the region. Among other measures, ASEAN member countries on Friday agreed on a framework for integrating almost a dozen industry sectors. According to ASEAN Secretariat data, regional exports to the world increased to 363 billion dollars in 2003 from 321 billion dollars in 2002. ASEAN comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar (Burma), Singapore, Thailand, the Philippines and Vietnam.
