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Tuesday, June 30
The Indiana Daily Student

Business in Brief

Zhu to announce free-trade framework\nBEIJING -- Chinese Premier Zhu Rongji plans to announce a framework agreement for a free-trade area between China and Southeast Asia next week during a trip to the region. \nZhu leaves Friday to attend a conference of leaders from the Association of Southeast Asian Nations in the Cambodian capital of Phnom Penh from Nov. 3-5. ASEAN governments -- having seen China draw foreign investment away from Southeast Asia -- are hoping to open up Chinese markets for their exports. \n"The two sides are working on the comprehensive framework agreement on ... economic cooperation," Fu Ying, director general of the Foreign Ministry's Asian affairs department, said Monday. "Most of the contents are agreed on and if they can complete the final draft, it will be signed by the leaders."\nUAW approves five-year contract\nWARRENVILLE, Ill. -- Navistar International Corp. announced late Sunday that members of the United Auto Workers agreed to a five-year labor agreement with International Truck and Engine Corp., its main subsidiary. \nThe deal involves 7,100 workers for International, which operates plants in Springfield, Ohio; Melrose Park, Ill.; and Indianapolis. It also operates parts distribution centers in Atlanta, Dallas and Baltimore, and a truck technical center in Fort Wayne, Ind. \n"We're happy we've got a contract. We're happy it's for five years and now we'll move forward,'' Navistar spokesman Roy Wiley said.

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