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Sino-ASEAN tariff cuts extended
(China Daily)
Updated: 2005-07-21 06:10
KUNMING: China, Brunei, Malaysia, Indonesia, Myanmar, Singapore and Thailand agreed mutual tariff cuts on 7,455 commodities yesterday.
The move was made in compliance with the Trade in Goods Agreement of a Framework Agreement for Overall Economic Co-operation between China and nations of the Association of Southeast Asian Nations (ASEAN) signed last November.
Experts believe that implementation of the tariff cut plan will enormously expand trade between China and ASEAN, and will be of far-reaching significance in the future development of Sino-ASEAN economic and trade relations.
Beginning yesterday, Chinese customs officers started to levy and clear commodities with certificates of origin issued by organizations authorized by the governments of Brunei, Malaysia, Indonesia, Myanmar, Singapore and Thailand, according to tariffs readjusted in accordance with the agreement.
In Kunming, the capital of Yunnan Province, 946 trade companies have applied to register "Forme," or the certificate of origin.
The General Administration of Customs has opened a special office in the Shenzhen customs house, another major port of imported commodities from ASEAN in Guangdong Province, to specialize in granting certificates of origin.
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