KUALA LUMPUR, Aug. 25 (Xinhua) -- The Association of Southeast Asian Nations (ASEAN) and the United States on Friday signed a Trade and Investment Framework Arrangement (TIFA) here.

    Economic ministers of all the 10 ASEAN member countries inked the pact with the United States Trade Representative Susan C. Schwab after concluding their consultations in Malaysia's capital of Kuala Lumpur, co-chaired by Malaysian International Trade and Industry Minister Rafidah Aziz and Schwab.

    Under the TIFA, ASEAN and the U.S. will establish a formal dialogue to coordinate on regional and multilateral trade issues and will undertake a Work Plan that will support regional integration and help expand the already strong trade and investment ties between ASEAN and the U.S.

    "At the initial stage, the Work Plan will include initiatives to support the development of the ASEAN Single Window, which will facilitate the flow of goods within ASEAN and between ASEAN and the United States," said ministers in a joint statement.

    In addition, a Joint Council on Trade and Investment will be formed under the TIFA to provide directions on the implementation of the TIFA and the Work Plan, said the statement.

    The TIFA supports the objectives laid down in the Enterprise for ASEAN Initiative (EAI) announced by U.S. President George W. Bush in October 2002 and the ASEAN-U.S. Enhanced Partnership signed by the Foreign Ministers of ASEAN and the U.S. Secretary of State this July, added the statement.

    Trade between ASEAN and the United States reached 152.9 billion U.S. dollars in 2005, registering an increase of 12.4 percent on a year-on-year basis. Enditem