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ASEAN trade

This article was originally published in The Tan Sheet

Executive Summary

A trade agreement signed by the Association of Southeast Asian Nations Economic Ministers and a U.S. Trade Representative "will serve as a platform for further deepening and broadening [U.S. and ASEAN] trade and investment relations," according to an Aug. 25 media statement from the ASEAN Ministers. A Joint Council on Trade & Investment will be formed under the Trade & Investment Framework Arrangement (TIFA), and the nations will "establish a formal dialogue to address issues between them, to coordinate regional and multilateral trade issues and to undertake a Work Plan that will support regional integration and help build on the already strong trade and investment ties between them." Trade between ASEAN and the U.S. increased 12.4% between 2004 and 2005, reaching $152.9 bil., according to the release, which notes, "foreign direct investment also continued to rise." Separately, Ministers agreed to recommend ASEAN leaders accelerate the goal of establishing the ASEAN Economic Community, a single ASEAN market, from 2020 to 2015, the ministers announce Aug. 22...

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