The ASEAN-Australia-New Zealand Free Trade Agreement will come into force 01 January 2010, following discussion between ASEAN leaders at the East Asia Summity in Thailand late October.

The Free Trade Agreement will establish the ASEAN-Australia-New Zealand Free Trade area, spanning 12 economies with more than 600,000 million people and a combined GDP of US$3.1 trillion.? The Agreement covers 20 per cent of Australia’s two-way trade, worth US$112 billion and will eliminate tariffs on 90 per cent of Australia’s current exports to ASEAN nations by 2020.

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• India signs partial FTAs with ASEAN pact

    The Association of South-East Asian Nations (ASEAN) Thursday signed a partial free-trade agreement with India which is expected to boost bilateral trade by an estimated 13 billion dollars over the next six years. Under the ASEAN-India Trade in Goods Agreement signed in Bangkok, tariffs will be reduced to zero on 71

• India signs partial FTAs with ASEAN pact

    The Association of South-East Asian Nations (ASEAN) Thursday signed a partial free-trade agreement with India which is expected to boost bilateral trade by an estimated 13 billion dollars over the next six years. Under the ASEAN-India Trade in Goods Agreement signed in Bangkok, tariffs will be reduced to zero on 71

• China, ASEAN Sign Investment Agreement

     China and the 10-nation Association of Southeast Asian Nations signed a bilateral investment agreement, signaling that the China-ASEAN Free Trade Agreement the two sides signed earlier to cover trade in goods and services can now be implemented on schedule next January. The China-ASEAN FTA will be the first free trade

• Shenzhen port sees 10.8% increase in exports to ASEAN in H1

     Shenzhen Port, one of China’s busiest ports, exported 7.85 billion U.S. dollar worth of goods to the Association of Southeast Asian Nations (ASEAN) in the first half of this year, up 10.8 percent year on year despite the global economic downturn, according to Shenzhen Customs House Saturday. General trade with

• ICTSI among the top 100 ASEAN wealth makers

    New York-based management advisor Stern Stewart & Co. has included International Container Terminal Services, Inc. (ICTSI) in its Association of Southeast Asian Nations (ASEAN) 100 Relative Wealth Added (RWA) Index list for 2009. Read at ICTSI among ASEANâ??s top 100 â??wealth makersâ??

• Vietnam: Imports of iron and steel industry hit hard

    Thanks to the economic recovery, steel prices rose from VND9 million a ton to VND12 million in the third quarter. But soon millions of tons of steel began to be imported and sold at VND300,000-500,000 a ton cheaper than local products, forcing firms to reduce their prices at least three

• YCH office network with South Korea increased

    Supply chain management company YCH Group yesterday opened an office in South Korea to strengthen its pan-Asian network. And separately, Danish giant AP Moller-Maersk Group said all its logistics units started trading as Damco from yesterday, combining its supply chain management and forwarding activities under one brand. YCH’s Korean office will leverage on

• Vietnam: Small steel mills will shut down

    The Vietnam Steel Association has anticipated that a lot of small scale steel mills will have to shut down because they cannot compete as a result of overproduction. Chairman of the Vietnam Steel Association (VSA) Pham Chi Cuong, in a recent interview with Thoi bao Kinh te Vietnam, said the

• China cargo at Tanjung Priok surges 50%

     The volume of import goods from China through Tanjung Priok port in the first two months of this year has surged more than 50 percent compared to the same period last year, Bisnis Indonesia reported. Data by the Priok Port One-Roof Service Center showed import goods from China had flooded

• Indonesia plans to increase steel imports from China in 2010

    Indonesia plans to increase steel imports from China to 1.5 million tons next year, as the tariff barriers would be deleted during the implementation of the ASEAN-China Free Trade Agreement (AC-FTA), which is scheduled on Jan. 1,2010, local media reported in Jakarta Monday.

• FASA urges Asian loud voice at IMO

    The Federation of ASEAN Shipowners’ Associations (FASA), which met in Hanoi, Vietnam, last week, says it will continue to urge the Asian Shipowners Forum to seek representation at the IMO and other international organizations to speak up on Asian shipowner’s interests. The Meeting was chaired by Duong Chi Dzung who

• ASEAN-China trade deal spurs Field

     Chinese products have started crowding into Tanjung Priok port following the implementation of the Asean-China Free Trade Agreement (ACFTA) earlier this year. Up until the third week of the month, four ships carrying commodities imported from China had entered the busiest port in Indonesia, Bisnis Indonesia reported. The ships are the

• POSCO agrees to buy 65% of International Steel Indonesia

    South Korean steel giant Pohang Iron Steel Corp.

• Kim Jong-il is rarely visit the port

    North Korean leader Kim Jong-il has visited Rason, a northern port city that the country is developing into a trade hub, where he gave guidelines on increasing exports, state media said Thursday. The visit was Kim’s first to the city since it was named a free trade zone nearly two

• Thailand, China plan direct sea and air

     Thailand and China have agreed to open direct air and sea routes between Thailand and Nanning city in Guangxi province to lower logistics costs and expand co-operation in trade and investment, the Bangkok Post reported. Deputy Commerce Minister Alongkorn Ponlaboot disclosed the plan after leading a delegation to the fourth