Saturday, August 26 2006 12:36 Hrs (IST) - World Time -

Kuala Lumpur: The US and ASEAN sign a trade and investment pact Wednesday(25 Aug,2006)to enhance flow of goods and ensure better protection for patented drugs originating from America.

US Trade Representative Susan Schwab signed the Trade and Investment Framework Arrangement or TIFA with ministers from the 10-member Association of Southeast Asian Nations.

TIFA will help enhance flows of goods via the development of the Asean Single Window.

The Asean and U.S. Urged WTO members to demonstrate flexibility to help put the Doha Development Round back on track before end of 2006. They also agreed to help Vietnam and Laos gain membership into WTO.

Officials say the TIFA will bring in new U.S. Funds for capacity building projects and spur investor confidence.

In a joint statement, the two sides say they will establish a joint council on trade and investment to implement the TIFA and outlined several work programmes.



They will also work together to develop 'harmonised standards for pharmaceutical registration and approval, which will speed the delivery of innovative medicines to ASEAN patients,' it adds.



Rafidah says the TIFA is not a precursor to anything yet. ''We just started the TIFA, give it time. We will cross the bridge when we get there," she says.

The US also makes it clear that the agreement will not change the serious concerns Washington has on human rights in Myanmar.

"The United States has very serious concerns about human rights in Myanmar. The TIFA is not going to change that," Schwab tells sources.