Tokyo (VNA) - Japan reaffirmed with the 10-member ASEAN on July 22 their aim for a comprehensive free trade agreement to take effect by the end of this year.
''Japan would like to work with ASEAN for the FTA to take effect as early as possible by the end of this year,'' Japanese Foreign Minister Masahiko Komura was quoted by Kyodo News as saying at ministerial talks in Singapore, which was part of a series of annual talks hosted by ASEAN with its key dialogue partners this week.
The ASEAN-Japan Comprehensive Economic Partnership Agreement, Japan's first FTA with a regional bloc, was endorsed by the Japanese parliament in June. It will come into force on the first day of the second month after Japan and at least one of the 10 ASEAN members complete domestic procedures to ratify it.
The accord with ASEAN is not only an FTA for goods but also covers services and investment. It will enable Japanese companies that are expanding their markets in Southeast Asia to reduce trade costs.
The Association of Southeast Asian Nations (ASEAN) groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.-Enditem
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