China to Exempt Taxes on 90% of Imports from ASEAN in 2010
The Chinese Ministry of Finance has said it will exempt taxes on 90% of goods imported from ASEAN countries in 2010.
The average tariffs on imports from ASEAN bloc will fall to 0.1% next year.
The move is in line with the China-ASEAN Framework Agreement on Comprehensive Economic Cooperation inked in 2002, which was aimed at facilitating the establishment of the ASEAN-China Free Trade Area (ACFTA) in 2010.
China is forecast to become ASEAN's third-largest trading partner in 2009. (Investment, VNA)
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