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Nov. 16 – Six members of the Association of Southeast Asian Nations will cut tariffs on cross-border transactions of goods beginning Jan. 1, 2010 to implement wide reaching trade liberalization and zero-tariff target for all goods traded in the region.
The group’s six major members also called the Asean-6 include Brunei Darussalam, Indonesia, Malaysia, Philippines, Singapore and Thailand. “Asean’s systematic forward movement towards tariff liberalization is an indication of how a regional grouping addresses the concerns of rising protectionism,” the group said in a statement.
Leaders of the region recently met during the annual summit of the Asia Pacific Economic Cooperation forum held in Singapore. The summit was also attended by U.S. President Barack Obama who is on his first presidential Asian trip to politically engage the region.
