Giant new Asian trade deal on agenda

[pampango]

Source: New Zealand Stuff

Prime Minister John Key will discuss a new Asia-wide trade agreement in Thailand this weekend. Leaders of 16 countries, including those of Southeast Asia, China, Japan, India, Australia and New Zealand, will meet for a fourth time at the East Asia Summit to talk trade, climate change and regional security.

On the agenda is a pan-Asia economic partnership plan that could pave the way for the largest free-trade area in the world. If approved by leaders, work will begin on tariff elimination and trade and economic co-operation between the 16 countries that would eclipse the European Union and the North American Free Trade Agreement in its scope.

Although New Zealand is not a member of the Association of Southeast Asian Nations (Asean), it is now a permanent member of Asean+6, which includes China, India, South Korea, Japan and Australia.

The grouping represents more than half the world's population and its fastest-growing economies. Six of the group are also members of the powerful G20 group of industrialised nations.

Read more: http://www.stuff.co.nz/national/politics/2984303/Giant-new-Asian-trade-deal-on-agenda

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It will be interesting to see if anything comes out of this meeting this weekend.