MEDIA RELEASE AUSTRALIAN MINISTER FOR TRADE MARK VAILE
MVT29/99	5 October 1999
Trade Minister Announces AFTA-CER Free Trade Taskforce

Trade Minister, Mark Vaile, today announced the establishment of a new taskforce to explore the feasibility of an AFTA-CER free trade area (FTA) by 2010.

Mr Vaile made the announcement in Singapore where he was attending talks between ASEAN economic ministers and ministers from the Australia-New Zealand Closer Economic Relations Agreement.

"This is a important step forward for Australia's trade relations in Asia and for freer trade in the Asia-Pacific region", Mr Vaile said. "It signals the readiness of our ASEAN trading partners to explore with Australia and New Zealand the next steps to opening trade in a way which is consistent with our larger APEC and WTO goals".

ASEAN and CER Ministers agreed that the feasibility study on an AFTA-CER FTA will be completed within 12 months to be submitted for consideration at the time of the ASEAN Economic Ministers meeting in Thailand in October 2000. ASEAN and CER ministers nominated H.E. Mr Cesar Virata, former Prime Minister of the Philippines, as the leader of the task force. It was agreed that the study would examine the adjustments required in moving towards an AFTA-CER FTA, including the flexibility needed by the four new members of ASEAN.

"At a time when some commentators are questioning Australia's commitment closer relations in Asia, this announcement signals that the Australian Government stands prepared to build even stronger economic links with our near neighbours in ASEAN", Mr Vaile said. "And it is a powerful signal in the wake of Asia crisis that crisis-hit countries such as Thailand and Indonesia are looking to press ahead in opening up markets rather than backtracking towards protectionism".

"This announcement puts Australia squarely in the game of ensuring that the Bogor free trade goals of APEC are delivered within our region, opening up major new export opportunities for Australian exporters".

"The Australian Government has always said we see the successful launch of a new WTO round at Seattle as a top priority now. But we remain open to examining proposals for bilateral or regional FTAs with the potential to deliver faster results", Mr Vaile said.

"This announcement today signals a more active phase in the building of links between AFTA and CER countries", Mr Vaile said.

For further information contact:

Minister's Office - Bruce Mills (02) 6277 7420 Department - Tony Melville (02) 6261 1555