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LEAD: Japan eyes launching E. Asia-wide FTA talks in 2008+

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LEAD: Japan eyes launching E. Asia-wide FTA talks in 2008+

Japan will propose to 15 Asian neighbors launching talks in 2008 aimed at a region-wide free trade agreement as a precursor to establishing an East Asian economic community, trade minister Toshihiro Nikai said Tuesday.

Economy, Trade and Industry Minister Nikai told a press conference Japan will ask the 10-member Association of Southeast Asian Nations, and China, South Korea, India, Australia and New Zealand to consider the regional FTA talks.

If realized, the economic zone would include half the world’s population and a quarter of its gross domestic product, officials said.

The idea will be included in a new global economic strategy that has been under consideration at the trade ministry, Nikai said. The minister will table the proposal at a meeting Friday of the policy-setting Council on Economic and Fiscal Policy, which is headed by Prime Minister Junichiro Koizumi, the officials said.

More: tmcnet.com

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