Over 60 Percent Products between China and ASEAN Enjoys Zero Tariff

[2009-03-18 16:44:45]

On the press conference opened by Ministry of Commerce on March 16, 2009, the spokesman of Yaojian said that by mutual lowering and cancelling tariffs, and further open service and investment territory, China realizes mutual benefit with relevant countries and regions. For example, since January 1, 2009, China and ASEAN realizes over 60 percent products enjoying zero tariff after the establishment of China-ASEAN free trade area. Over 90 percent products between the two countries will realizes zero tariff until January 1, 2010.

At present, China has carried out negotiation, business agreement and cooperative research in 14 free trade areas with 31 countries and regions. Among them, there are 7 free trade agreements have become effective, including the trade relationship arrangement with Hong Kong and Macao, as well as the free trade agreement with ASEAN, Chile, Pakistan, New Zealand and Singapore. The trade volume under those seven free trade agreements reaches 500 billion U.S. dollars, taking up 20 percent of China’s total foreign trade volume.

It is said that China has completed the arrangement of cooperative research on regional trade with India, and the free trade area cooperative research with Korea as well as the fourth negotiation of Asia-Pacific Trade Agreement is undergoing, and the free trade of cooperative research with Switzerland will carried out in the second half of 2009.

Source: Information times
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