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Jakarta Post

ASEAN partners walk the talk

  • The Jakarta Post

  /   Sun, November 20 2011   /  02:19 pm

Business and economic deals and commitments have been made between Southeast Asian nations and their partner countries during the 2011 ASEAN and East Asia Summit, which included the United States, Russia, China, Japan, South Korea, India and Australia.

ASEAN and China have pledged to further liberalize trade in services, signing a new protocol to expand sectoral coverage of their commitments beyond the existing general agreement on trade in services (GATS) and the first package of ASEAN China Trade in Services agreement (AC-TIS), according to an official press statement issued by ASEAN officials.

ASEAN secretary-general Surin Pitsuwan said the enlarged free trade pact, which previously only included trade of goods and investment, would further boost trade and investment between ASEAN and China.

Earlier on Friday, Chinese banks, led by state-run China Development Bank...