ASEAN wants AJCEP to be signed soon

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Bernama | 21 August 2015

ASEAN wants AJCEP to be signed soon

ASEAN hopes to conclude and sign the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP) soon, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said.

"The AEM (ASEAN Economic Ministers’ Meeting) is determined to conclude the final package before the announcement of the formation of the ASEAN Economic Community," he said, adding that negotiations for the services and investment chapter of the AJCEP has been completed.

"There are value additions in terms of market access commitments for Japanese companies in the services sector and we recognise that services liberalisation will be critical to sustaining economic growth in the region," he said.

Both ASEAN and Japan stand to benefit from AJCEP, he said in his opening remarks at the 8th Dialogue Session between ASEAN Secretary-General and the Federation of Japanese Chambers of Commerce and Industry in ASEAN (FJCCIA) here today.

Japan remains ASEAN’s substantial trading partner with investments amounting to US$77 billion from 2010 to 2014, reflecting the confidence of Japanese companies towards the grouping.

Japan is ASEAN’s third largest trading partner after China and the European Union, with two-way trade between ASEAN and Japan reached US$229 billion in 2014.

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source: Bernama