WASHINGTON — A senior U.S. lawmaker says he plans to introduce legislation next week that would urge U.S. trade officials to pursue a free trade deal with the Association of Southeast Asian Nations.

Republican Sen. Richard Lugar said Friday that China, India, Australia, New Zealand and South Korea have free trade agreements already with the 10-nation ASEAN and “are sharpening a competitive edge over the U.S. in Southeast Asia.”

Lugar says the United States should “develop a comprehensive strategy toward” U.S.-ASEAN trade talks.

Lugar says U.S. trade restrictions with military-run Myanmar should not prevent a deal with the rest of ASEAN.

President Barack Obama will be in Singapore next month to attend an Asian economic meeting. Lugar’s bill faces uncertain prospects.

India, South Korea Sign Free Trade Agreement

After more than three years of negotiations, India and South Korea signed a Comprehensive Economic Partnership Agreement covering trade in goods, services and investment, and international property rights. Both countries agreed to gradually lower tariffs over a 10-year period, once the South Korean National Assembly ratifies the agreement.

Just 6 days later, India finalized another trade agreement with ASEAN that was 6 years in the making:

The Trade in Goods Agreement between India and ASEAN cut tariffs by 80 percent as of 1 January 2010. The agreement has added flexibility to protect more sensitive domestic goods and will allow the use of safeguards for up to four years if liberalisation hurts domestic industry, according to a statement by India’s Minister of Commerce and Industry Anand Sharma.

For the complete details, read the article at the International Centre for Trade & Sustainable Development.