MT144

9 September 1995

POSITIVE OUTCOME FROM AFTA/CER MEETING IN BRUNEI

The Minister for Trade, Senator Bob McMullan, today welcomed the agreement by Ministers from ASEAN and CER (Australia and New Zealand) to establish concrete business links between the two free trade areas.

Senator McMullan said today's meeting in Brunei was a milestone in Australia's trade and investment relationship with ASEAN.

"Today's meeting was a significant step forward in Australia's strategy of economic engagement with Asia," Senator McMullan said.

"AFTA/CER represents nine complementary economies already linked by considerable political economic ties and a strong record of cooperation. Links between Australia and the region are developing rapidly, with trade activity high in relation to world trade.

"There is a great sense of common purpose among AFTA and CER nations to work together to develop greater opportunities for their respective businesses and workers.

"Trade cooperation with in AFTA/CER reflects a worldwide trend for business links between free trade areas."

Senator McMullan said the Ministers agreed to meet next year in Indonesia to build on the agreements reached at this meeting.

Areas of cooperation agreed include:

exchange of information

human resource development

customs matters

standards and conformance

trade and investment facilitation and promotion

competition policy

and industrial cooperation.

Senator McMullan said a pleasing result of the meeting was agreement to set up an AFTA/CER business group to supplement the work of the Ministers and meet in Indonesia next year in tandem with the Ministers.

Further information: John Flannery, (06) 277 7420, 018 482 887