ASEAN okays links

THE Association of Southeast Asian Nations (ASEAN) has agreed with Australia and New Zealand to establish a system of links to boost trade and investment flows.

The agreement was announced after talks in Brunei between ASEAN economic ministers and the trade ministers of Australia and New Zealand, which are bidding for closer integration with Asia's booming economies.

Australian Minister for Trade Bob McMullan said the move reflected the 'open regionalism' concept of the two groups, but he did not envisage a liberalisation of tariffs at this stage.

'It is not on the agenda,' he said, but 'liberalisation in the sense of making it easier to trade and invest is possible.'