Non-tariff barriers targeted
Asean member countries plan to focus on reducing non-tariff barriers to increase intra-region trade flexibility.
Heading the Thai delegation to the Asean Economic Community Council Retreat in Selangor, Malaysia, yesterday, Commerce Minister Kittiratt Na-Ranong said Asean member states had agreed that they needed to eliminate non-tariff barriers to boost economic growth.
“Although tariff barriers have been removed for Asean trading, many non-tariff barriers have obstructed free flow of goods among Asean countries,” he said. “To ensure the growth of the region amid an expected slowdown of the global economy, each member state should reduce such barriers to enhance trade.”
Asean member states plan to issue a statement against non-tariff barriers during the Asean Leaders Summit to be held in Bali from November 17-19.
During the meeting in Malaysia, economic ministers in Asean discussed how to promote economic growth equally and how to enhance growth of less developed nations in Asean. The discussion focused on increasing efficiency of financial services, and facilitation of money transfer among the 10 nations |as many labourers from less developed countries work in more developed ones.
Ministers also negotiated on tightening economic cooperation among member states under the Asean+3 and Asean+6 agreements to bolster regional growth next year.
Asean+3 includes China, Japan and South Korea, while Asean+6 adds Australia, New Zealand |and India.
