This doesn't sound good for the US.
Stan
Friday January 11, 1:17 PM
Japan's trade minister calls for Pacific economic bloc in 10 years
Japan's Economy, Trade and Industry Minister Takeo Hiranuma said Asian and Pacific nations should consider creating a Pacific economic bloc to strengthen economic ties.
sg.biz.yahoo.com
"Establishing a broad economic partnership in a Pacific economic bloc would not be bad for Southeast Asia, East Asia as well as Oceania," Hiranuma said in a press conference.
"I think it's good to consider it broadly and with plenty of time -- about, say, a 10-year span," he said.
Hiranuma made the comment as Japan and Singapore are set to sign Japan's first bi-lateral Free Trade Agreement on Sunday.
Japan's Prime Minister Junichiro Koizumi and his Singaporean counterpart Goh Chok Tong are scheduled to sign the agreement.
Koizumi is on a week-long trip to five Southeast Asian nations in a bid to boost economic ties between Japan and the Association of Southeast Asian Nations (ASEAN).
Analysts have said Koizumi planned to use this trip to boost Japan's profile in the region in a bid to counter China's intensified dialogue with members of the Association of Southeast Asian Nations (ASEAN).
ASEAN and China agreed in November to set up a free-trade zone in 10 years.
Hiranuma said it is important for Japan to follow China's move.
"We, too, should promote economic ties (with ASEAN nations) to promote comprehensive trade relations under the WTO framework," Hiranuma said.
ASEAN comprises the Philippines, Malaysia, Indonesia, Brunei, Cambodia, Laos, Myanmar, Singapore, Thailand and Vietnam. |
