FINANCIAL CRISIS: Free trade deal opens Asian market to Australia, New Zealand

South East Asian economy ministers sign a free trade deal with Australia and New Zealand that aims to boost their combined economies.

The European Union expects to conclude a free trade deal with Singapore by the end of next year and is likely to begin talks with other Southeast Asian nations soon, a top official said on Friday.The EU's trade commissioner, Karel De Gucht, also said Europe still hopes to ultimately reach a region-wide deal with the Association of Southeast Asian Nations (ASEAN).He said a regional pact has not been possible partly because of military-ruled Myanmar, which is under European sanctions.

New Zealand has won a 90-year trade dispute with Australia with the World Trade Organization (WTO) ruling Tuesday that Canberra breached international laws by blocking New Zealand apple imports."The (WTO) report represents a solid and very clear win in this long running case," New Zealand Trade Minister Tim Groser said."The panel has come to the same conclusion we did some years ago that Australia?s objections to the importation of New Zealand apples are simply not backed by adequate scientific evidence."

The United States and seven other countries began "very significant" talks in Australia Monday on a pact that could be the first step towards a sweeping Asia-Pacific free-trade zone.Officials from Australia, New Zealand, Singapore, Chile, Brunei, Peru and Vietnam are also taking part in the Trans-Pacific Partnership negotiations in Melbourne, which may eventually include China, Japan and South Korea."This is a very significant potential trade negotiation," Australian Trade Minister Simon Crean told reporters in Canberra.

Australia will resume stalled talks with China within days as it pursues an ambitious free-trade push following its strong recovery from the global downturn, Trade Minister Simon Crean said.He said discussions with China would open in Canberra next week, while Australia was also in talks with Japan and South Korea and was studying a deal with India.He said Canberra and Beijing were strongly committed to free-trade negotiations which stumbled on technical issues before diplomatic ties suffered a series of setbacks last year.

Full-time score in the Tri-Nations rugby Test between New Zealand and Australia at AMI Stadium here on Saturday:New Zealand 20 Australia 10(H-t: 17-10)ScorersNew Zealand - Tries: Mils Muliaina, Conrad Smith. Conversions: Dan Carter (2). Penalties: Carter (2)Australia - Try: Kurtley Beale. Conversion: Matt Giteau. Penalty: GiteauTeams (15-1)

US President Barack Obama's administration is under pressure from Congress to emphasize labor rights, democratic values and market reforms in talks to forge a trans-Pacific trade deal.Obama's top trade official Ron Kirk met lawmakers for consultations Wednesday ahead of negotiations for the Trans-Pacific Partnership (TPP) linking the United States with an initial group of seven nations -- Australia, Brunei, Chile, New Zealand, Peru, Singapore and Vietnam.

Rugby unions in New Zealand, Australia and South Africa have secured a 35 percent increase in broadcasting income with a five-year deal worth 437 million US dollars, officials said Thursday.The 2011-2015 deal with Supersport in South Africa, Fox Sports in Australia and Sky Television in New Zealand replaces the current agreement worth 323 million US dollars, said SANZAR, the joint venture of the three rugby unions.SANZAR's head, New Zealand Rugby Union chief executive Steve Tew, said the broadcasting deal represented a major vote of confidence in southern hemisphere rugby.