ASEAN will sign two Agreements

Two important agreements are expected to be signed in the high-level meeting of the 14th Association of Southeast Asian Nations (ASEAN).

Deputy Secretary General of the Asean Economic Community (AEC) Pushpanathan said the agreement - Agreement on Trade in Goods of Asean and Asean Comprehensive Investment Agreement - not only would encourage trade liberalization among the 10 members of the group but also facilitate the process. "ASEAN Goods Trade Agreement is a comprehensive agreement to not only trade liberalization but also will facilitate customs and standards," he said in a special session of the AEC after the opening of the Business and Investment Summit of ASEAN in Bangkok on Wednesday (26 / 2).

Previous agreements will go through the ratification process will have clear guidelines. Among other things, about the rate reduction.

He said the business community will know when a particular product tariffs will be reduced. "There is an attachment of the schedule. So, they can make better preparation," he said.

Pushpanathan said the Asean Comprehensive Investment Agreement will provide a clear timing for the liberalization of investment in accordance with the AEC. "The benefits will increase for foreign investors in ASEAN," he said.