International Humanity

A Blog Started to Record my thoughts on International News events

Japan seeking Liberalized Trade through ASEAN

Posted by alexfrancis on April 18, 2007

Japan is seeking to liberalize 92% of trade value through making agreements with 10 other members of the Association of Southeast Asian Nations, or ASEAN. Trade and Industry Minister Akira Amari is scheduled to meet with counterparts from 10 ASEAN members in Brunei on May 4, 2007.

In order to realize this goal of further liberalizing trade, Japan and other states committed to ASEAN have made progress in narrowing differences over terms for a free trade agreement. This is an example of states working through international institutions, in this case an international trade regime, in order to reach agreements so that all members involved will benefit.

There are many benefits of free trade. According to Kegley and Raymond’s The Global Future(2005), those countries that do not interfere with trade at home tend to have the highest average economic growth rates, the safest economic environments, are less prone to civil wars, and are capable of solving conflict democratically.

As in the case of ASEAN with Japan, trade is capable of growing rapidly when countries attempt to remove barriers to trade by reaching agreements with one another.

source: http://asia.news.yahoo.com/070418/kyodo/d8oivb600.html

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