ASEAN’s two path-breaking Free Trade Agreements (FTAs) with Asia’s second (soon to be first) largest economy, China, and third largest economy, India, could signal a definite turn towards Asian countries viewing each other as valuable partners, markets and investors.
Together with the currency-swap agreements among South Korea, Japan and China, these FTAs have the potential to create a network allowing Asian states to develop mutually beneficial trade relationships.
(Source: The Financial Express)