China And ASEAN Will Achieve Zero Tariffs In January 1St Next Year
Reporters today learned from the China ASEAN Free Trade Agreement and the China ASEAN Expo held in Guangxi that since January 1, 2010, more than 90% of their products have been reduced to zero. This means that China and ASEAN 10 countries enjoy zero tariffs except for sensitive products.
Zhang Kening, a commercial counselor of the Ministry of Commerce, said that China ASEAN Free Trade Area will usher in a critical period in the next two years. According to the tax reduction model set by the FTA, in January 1, 2007, China expanded the scope and scope of tax reduction products, reduced tariffs on 5375 products, and reduced the average tariff to 5.8% on ASEAN.
In January 1st, it dropped to 2.4% again. By 2010, China will impose zero tariffs on 7000 products, accounting for 93% of the total products, and ASEAN will also make similar arrangements.
Zhang Kening said, "this will bring great benefits to our enterprises, especially textile exporters, in gaining more market share and reducing their export costs."
In 2008, China imported $6 billion 100 million from the ASEAN beneficiaries, a preferential tax rate of 3 billion 200 million yuan for enterprises. At the same time, China's enterprises applied for 184 thousand China ASEAN Free Trade Area certificate of origin certificate, benefiting 5 billion 100 million dollars to ASEAN export. With the further reduction of the tax rate in the FTA, the two sides will enjoy more concessions.
Editor in chief: Xu Qiyun
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