China Implements Zero Tariff on Asphalt Trade in ASEAN

[2009-02-21 13:27:11]

Approved by the state council, 2009 Tariff Enforcement Plan shall be implemented on Jan 1, 2009. The tariff of asphalt keeps 8%. According to Trade Agreement between China and ASEAN, China and ASEAN implement zero tariff on asphalt trade

According to the new Tariff Enforcement Plan, eight countries including Brunei, Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam implement zero tariff to China on asphalt trade, and the tariff of asphalt is 5%. China remains a net importer of asphalt and only Singapore and Malaysia, the relevant important origin place of asphalt trade, have long-term asphalt trade with China. After the lowering of tariff, the competition of asphalt in Singapore and Malaysia is expected to be improved

Meanwhile, according to Asia-Pacific Trade Agreement, China keeps 30% amplitude modulation of import tariff on petroleum and asphalt trade with Bengal, India, Laos, Korea and Sri Lanka. In others words, that is 5.6%. As the unique country to export asphalt to China, Korea can enjoy this policy. But since June 2007, the Ministry of Commerce of Korea has ceased to issue place of origin of asphalt when exporting to China, so asphalt imported from Korea doesn't enjoy this preferential policy any more. At present, no definite information show that Korea can enjoy the preferential policy again.

Source: Ministry of Commerce