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Japan Proposes Gigantic Asian Free-Trade Area

Japan is out to build a free-trade zone larger than NAFTA and the EU combined.

Japan is out to build a free-trade zone larger than NAFTA and the EU combined. It's proposing a 16-nation, Asian economic free-trade zone that would encompass almost half of the world's population and include China, India, Japan, Australia, New Zealand and South Korea. Japan hopes to initiate negotiations in 2008 and have a deal by 2010. -- Joe Roybal

TAGS: Exports