China, Asean sign trade pacts
AFP, Vientiane
China and 10 Southeast Asian countries signed historic trade pacts Monday to pave the way for the world's biggest free-trade zone by 2010, covering two billion people. Chinese Prime Minister Wen Jiabao and his counterparts from the 10-country Association of Southeast Asian Nations (Asean) signed the agreements in the Laotian capital Vientiane. The pacts include an agreement to liberalise tariff and non-tariff barriers on traded goods and one to set up a mechanism to resolve trade disputes. The trade liberalisation pact will form the first component of a comprehensive accord planned for completion by 2010 that will include the full liberalisation of the services sector.
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