Economic ministers and officials from ten member countries of the Association of Southeast Asian Nations (ASEAN) are meeting in Bangkok, Thailand, to discuss the formation of a common market.

At the ASEAN Economic Ministers’ Meeting, lasting from Aug. 13-16, the delegates will consider the process of forming the market under the framework of the establishment of the ASEAN Economic Community by 2015.

They will also define the mechanism for a transitional period after 2015, put out initiatives and a feasibility study for regulations of the ASEAN Customs Union and other forms of cooperation in order to heighten the association’s power.

In addition, they will discuss the framework of a free trade area, including forming a supervisory mechanism within the ASEAN Trade Treaty, particularly an itinerary for tax reduction. The treaty was signed in February this year and is expected to be implemented as of Aug. 25.

The delegates will discuss a plan to promote economic cooperation and ways to expand investment and trade with China, Japan, the Republic of Korea, India, Australia and New Zealand.

They will share experiences and measures to overcome the global financial crisis and to cope with the A/H1N1 flu epidemic.

On the morning of Aug. 13, officials from the ASEAN and other Asia economies attended the Asian Fashion Plus Trade Fair in Bangkok .

Vietnam’s Minister of Industry and Trade Vu Huy Hoang is expected to join the AEM on Aug. 14./.