"China and southeast Asian nations are likely to sign an investment treaty during the ASEAN summit. An initial free trade agreement was signed in November 2002, with 2010 set as a deadline for a broader pact.

A Free Trade Area between China and ASEAN will create a zone with over one and a half billion people and a trade volume of over a trillion US dollars. Japan and South Korea are also attending the meeting through the ASEAN 10+3 mechanism. [CCTV]

"It appears that this measure will be smoothly completed on time," Chinese Assistant Foreign Minister Hu Zhengyue told a briefing ahead of meetings in the Thai resort town of Pattaya....He said the focus of this weekend's meetings would be on strengthening cooperation to surmount the global financial crisis...

"Considering the current financial crisis, we believe it's extremely important that both sides continue to strengthen investment between them," Hu said of China and the ASEAN states. [Reuters]

Meanwhile, in related news, Economic Times reports that "South Korea and [ASEAN] reached an agreement on bilateral investments...South Korea and ASEAN have been in negotiations to complete free trade talks on four accords, pertaining to merchandise, services, investment and dispute settlement. Officials said both sides will proceed with related procedures to conclude the deal soon. An agreement on merchandise took effect last year, and the deal on services will be enforced from May. [Economic Times]