JETRO reports on FTA, recommends to Asean+3
JETRO reports on FTA, recommends to Asean+3
Japan External Trade Organisation (JETRO) yesterday reported the survey results on the current Free Trade Agreement (FTA), for the period January to March 2016.
The report was presented during the Asean+3 (China, Japan, and Republic of Korea) Economic Ministers Meeting held in Vientiane as a part of the business recommendations of the East Asia Business Council (EABC).
In the report, Mr Akahoshi, President of JETRO stressed the indispensability of Regional Comprehensive Economic Partnership (RCEP), by referring to the fact that around 75 percent of trading activities, including companies in Laos, have been conducting in the Asean+6 region, and requested deeper, wider tariff reduction.
Other essential recommendation included the development of clear rules and disciplines to utilise E-Commerce especially for Micro, Small and Medium Enterprises.
Provision of an easy-to-use, reliable FTA related information source, harmonisation and development of trade-facilitative Rules of Origin, and further business engagement in negotiating/implementing FTAs, were also recommended.
JETRO reaffirmed its continuous support to contribute to the EABC activities toward achieving the inclusive economic integration.
East Asia Business Council has been established since 2003, is actively engaged with Asean, China, Japan, and Republic of Korea governments and aims to provide private sector perspective and feedback to deepen economic cooperation in the region.
It also is strengthens cooperation among the private sectors in Asean plus 3 to promote intra-regional trade and investment.
