Posted on 30 Mar 2009
China-ASEAN FTA to be completed in 2010
Tariffs on over 90 per cent of products traded between China and the Association of Southeast Asian Nations (ASEAN) will be lowered to zero starting from January 1, 2010.
This means that except sensitive products, all products traded between China and ASEAN countries will enjoy zero tariff, sources attending ongoing China-ASEAN free trade agreement and Expo disclosed.
In fact, the average tariff rate between China and ASEAN has already been lowered to 5.8 per cent from January 1, 2007, and has been cut further to 2.4 per cent from January 1 this year.
By 2010, 93 per cent of China's import from ASEAN will enjoy zero tariffs, and ASEAN countries will make similar arrangements.
