Asia plans trade bloc to rival Europe

Southeast Asian leaders finalised visionary pacts with China and India at their summit today, hoping for a pan-Asian trade bloc to rival Europe and the US, even as the region grapples with terrorism and epidemics such as bird flu.

The 10-country Association of Southeast Asian Nations (ASEAN) was to sign an accord with China to create the world’s biggest tariff-free market of nearly 2 billion people.