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Australian PM cautions against closed trade groups in Asia
TOKYO. Sept 23: Australian Prime Minister Paul Keating warned on Tuesday that exclu sfve trade groupings in Asia and the Pacific could harm open trade In the region, re ports Reuter.
Keating said he agreed In talks with Japanese Prime Minister KHchl Miyazawa that trade sub-groups In the region should not be allowed to hurt the Interest of third countries.
"It means In practice that we should not encourage sub groups In the Asia-Pacific re-Cn which acquire an Inward-
king or exclusive character." he told a news conference on the first leg of a tour that will also take him to Singapore and Cambodia.
As examples he mentioned the North American Free
Trade Agreement linking the United States. Canada and Mexico. and the ASEAN countries commitment to establish their own free trade agreement.
The Association of South Elast Asian Nations groups Brunei. Indonesia. Malaysia, the Philippines. Singapore and Thailand.
"We accept that free trade agreements have the potential to bring benefits to both their members and external trading partners," Kcallng said.
"But, such arrangements should be open."
Keating, who has made Australia's position in Asia a key theme of his government. said his proposals for meetings between leaders of the Asia-Pacific Economic Cooperation (APEC) nations had gone down well so far.
T think It's fair to say that we have had generally positive responses to this proposal," Keating said.
APEC, an economic consul tat Ivc body set up in 1989 under an Australian initiative, groups the United States, Canada. Japan, South Korea, China. Taiwan. Hong Kong, Australia. New Zealand, and baling said the United Slates. Singapore. Japan and China had all shown Interest In the proposed meetings.
"APEC would be more successful If it had the added impetus, the added strength, that could be brought at the political level by representation of heads of government," he said.
The benefits to Japan as a trading nation front a successful conclusion of the GATT would, outweigh any concessions that Japan would make or may make, in respect of rice." he said.