Asia will drive global economic recovery
Australian Minister for Trade Simon Crean believes Asia’s economic recovery, and capacity to maintain open trade, will drive global economic recovery.
Crean spoke between sessions at last week’s Association of South East Asian Nations (ASEAN) conference and said the significant growth potential of Asia was key to global revival. Beyond China and India, he predicted Indonesia and Vietnam would play a role in strengthening an economic recovery.
The conference further delivered some promising indications for Australia, Crean added, who said all ministers showed strong political commitment towards bringing the ASEAN-Australia-New Zealand Free Trade Agreement into effect on January next year.
“We have agreed to redouble our efforts to realise this,” he said. “Australian exporters want this FTA to come into force as soon as possible, so they can access the significant tariff reductions and other commitments it contains.”
ASEAN also recently signed a free trade agreement (FTA) with India and an investment FTA with China.
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