World

Japanese government approves plan to sign revised FTA with ASEAN

The Japanese government passed a plan to sign a revised free trade agreement (FTA) with the Association of Southeast Asian Nations (ASEAN) at a Cabinet meeting on February 26, according to Kyodo News.
Japanese government approves plan to sign revised FTA with ASEAN ảnh 1Japanese Foreign Minister Taro Kono (Photo: AP/VNA)

Hanoi (VNA) – The Japanesegovernment passed a plan to sign a revised free trade agreement (FTA) with theAssociation of Southeast Asian Nations (ASEAN) at a Cabinet meeting on February26, according to Kyodo News.

The Japanese news agency quoted Japanese ForeignMinister Taro Kono as saying that he hopes the revised FTA, which includesliberalisation of investment and service fields, will be a huge step towards enhancingthe economic partnership between Japan and ASEAN.

The country is expected to sign the agreement onFebruary 27 and seek approval from parliament this autumn, while ASEANcountries will start the signing procedure from March 2.

The original FTA between Japan and ASEAN wentinto effect in 2008 and was Japan’s first multilateral free trade deal, whichfocused on the trade of goods.

To further optimise benefits from this pact, thetwo sides started negotiations on investment and services in 2010 and concludedat the ministerial level in 2017.

ASEAN is the second biggest trade partner ofJapan in Asia after China.

According to statistics of the Japanesegovernment, the total import-export turnover of Japan with ASEAN exceeded 12trillion JPY (about 108 billion USD) in 2018.

Besides the FTA with ASEAN, Japan has separatebilateral free trade deals with seven ASEAN countries namely Brunei, Indonesia,Malaysia, the Philippines, Singapore, Thailand and Vietnam.-VNA

VNA
#Japanese government#plan#revised free trade agreement#FTA#Association of Southeast Asian Nations#ASEAN#Kyodo News#liberalisation#investment#service#economic partnership#trade of goods#Vietnamplus#Vietnam News Agency
Follow VietnamPlus

Related News

Japan, ASEAN share information about cyber attacks

Japan, ASEAN share information about cyber attacks

Japan and 10 member countries of the Association of Southeast Asian Nations (ASEAN) have recently set up a mechanism to share information about cyber attacks in order to improve efficiency in dealing with this problem.
PM highlights ASEAN commitments to strengthen ties with Japan

PM highlights ASEAN commitments to strengthen ties with Japan

Vietnamese Prime Minister Nguyen Xuan Phuc has underlined strong commitments of ASEAN in promoting and elevating the strategic partnership and comprehensive cooperation between the grouping and Japan for peace, stability and prosperity of each side as well as the whole region.

See more

At Pulau Seraya power station (Photo: Straitimes)

Singapore begins construction on hydrogen-fueled power plant

Singapore on October 23 began the construction of an 800 million USD power plant that has the capability to use hydrogen to generate electricity, as part of a push to utilise the fuel to reach Singapore’s net-zero carbon emissions target by 2050.

Delegates at the event (Photo: VNA)

125th anniversary of Permanent Court of Arbitration celebrated

The Permanent Mission of Vietnam to the United Nations and missions of the Philippines, Australia, Egypt, Guatemala, Hungary, Thailand, France, Eritrea and Austria, organised a ceremony on October 22 to celebrate the 125th anniversary of the Permanent Court of Arbitration (PCA), as part of the International Law Week at the UN General Assembly's Legal Committee (Sixth Committee).

CEO of the Malaysia Digital Economy Corporation Anuar Fariz Fadzil (Photo: focusmalaysia.my)

Malaysia continues placing emphasis on digitalisation

The Budget 2025 provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence (AI) and drive inclusive growth, further positioning Malaysia as a leading digital hub within the ASEAN region, according to CEO of the Malaysia Digital Economy Corporation (MDEC) Anuar Fariz Fadzil.

Malaysia's economic reforms boost investment inflow (Photo: thestar.com.my)

Malaysia's economic reforms boost investment inflow

Malaysia has attracted substantial foreign investments, reaching 22.2 billion MYR (5.16 billion USD) in the third quarter of 2024, the highest level for the same period since 2012, according to UOB's Global Markets and Economics report.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN speaks at the debate (Photo: VNA)

Maintaining peace, stability a must for progress on human rights: Ambassador

Progress in human rights can only be achieved by maintaining peace and stability, respecting the rule of law at both the international and national levels, and ensuring respect for the principles of national sovereignty and non-interference in internal affairs, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.

A visitor browses travel promotions at a travel fair in Nonthaburi province. (Photo: Bangkok Post)

Thailand plans enhanced support for domestic tourism

Thailand’s Ministry of Tourism and Sports is aiming to increase subsidy to local tourists in the upcoming stimulus scheme to 50% and would like to change the criteria for online travel agents, mandating them to register in Thailand to avoid losing income to foreign companies.

Oil field offshore Indonesia. (Photo: thejakartapost.com)

Indonesia begins major oil, gas exploration in Sulawesi

Indonesia's state-owned oil company Pertamina, along with foreign partners Sinopec from China and Kuwait’s Kufpec, has signed a contract to explore the Melati oil and gas block, located off the coast of Sulawesi. The block is estimated to contain trillions of cubic feet of gas reserves.