Japan, ASEAN to sign free trade agreement

Japan and the Association of Southeast Asian Nations (ASEAN) agreed on Wednesday to work together to reach a free trade agreement which would liberalize more than 90 percent of bilateral trade by value.

The prospective free trade agreement, which will be Japan's first such deal with a regional bloc, is expected to be signed early next month, when economic and trade affairs ministers from Japan and ASEAN members meet in Brunei, Japanese officials were quoted as saying.

The two sides reached the consensus after narrowing differences concerning trade liberalization affairs during a two-day meeting in Tokyo, and are thinking of reaching a broader and inclusive FTA in late August, Kyodo News said.

Source: Xinhua