Asean free trade negotiations begin today

The first round of negotiations of a free trade deal between South-East Asian nations and Australia and New Zealand will begin in Melbourne today.

The 10 countries that make up the Association of South-East Asian Nations (Asean) agreed at a meeting in Laos in November to launch negotiations on a trade agreement with Australia and New Zealand covering investment, goods and services.

Trade Minister Mark Vaile will open the first round of negotiations at the Windsor Hotel in Melbourne at midday today.

Mr Vaile says the FTA offers exciting opportunities for Australia with greater access to Asean nations, which have a total population of 545 million and combined Gross Domestic Product of almost US$700 billion ($986.33 billion).

The leaders of the 12 countries have agreed to complete negotiations within two years and to implement the agreement fully within 10 years.

- AAP