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China’s lowers tariffs on 5,375 kinds of products from ASEAN
16/08/2007 12:00
According to Wang Winpei, the spokesman of Ministry of Trade of China, the country has lowered or removed tariffs on 5,375 kinds of products from the association of South East Asian Nations (ASEAN) since 2005 in order to promote trade between the two sides.
The average tariff was cut from 9.9% to 5.8% since the two parties signed the Goods Trade Agreement in China- ASEAN Free Trade Area (CAFTA) in July, 2005 when both China and ASEAN began to remove trade barriers by drawing up the plan to cut down and remove tariffs of 7,000 kinds of goods. According to the agreement, by the year 2010 when the free trade area has been set up, no kind of goods will be taxed.
From January to July, the trade amount between China and ASEAN increased by 27.5%, reaches 109.77 billion US dollars year on year. Imports to China reached 58.77 billion US dollars, increasing 22.4% and its imports reached 51 billion US dollars, increasing 34%.
The main exports of China to members of ASEAN are ships, tailored and knit clothes, porcelains, and vegetables and fruit. Its main imports are products made of copper, rubber, and coconut. China is the fourth biggest trade partner of ASEAN and this year, ASEAN has become the fourth biggest partner of China for the first time.
The average tariff was cut from 9.9% to 5.8% since the two parties signed the Goods Trade Agreement in China- ASEAN Free Trade Area (CAFTA) in July, 2005 when both China and ASEAN began to remove trade barriers by drawing up the plan to cut down and remove tariffs of 7,000 kinds of goods. According to the agreement, by the year 2010 when the free trade area has been set up, no kind of goods will be taxed.
From January to July, the trade amount between China and ASEAN increased by 27.5%, reaches 109.77 billion US dollars year on year. Imports to China reached 58.77 billion US dollars, increasing 22.4% and its imports reached 51 billion US dollars, increasing 34%.
The main exports of China to members of ASEAN are ships, tailored and knit clothes, porcelains, and vegetables and fruit. Its main imports are products made of copper, rubber, and coconut. China is the fourth biggest trade partner of ASEAN and this year, ASEAN has become the fourth biggest partner of China for the first time.
17/08/2007
According to TTXT TM&ÐT TP H? Chí Minh
According to TTXT TM&ÐT TP H? Chí Minh
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