Over the past year, China has lowered its import tariffs on
3,408 products from ASEAN (Association of Southeast Asian Nations)
countries in line with their free trade agreement, announced
Ministry of Commerce spokesman Chong Quan on Friday.
"The ASEAN countries have also cut their import tariffs on some
products imported from China," he said.
Chinese customs figures show that from July 2005 to May 2006,
China's import volume from ASEAN reached US$74.15 billion, up 20.6
percent on the previous year, while China's exports to ASEAN grew
23.1 percent to US$55.57 billion.
The facts prove that China-ASEAN free trade arrangement bolsters
bilateral trade and is mutually beneficial, Chong said.
The two sides are now negotiating on two agreements about
service trade and investment, according to Chong.
Over the next few years, China and ASEAN will continue to cut
their tariffs on more than 7,000 products, and gradually open
service and investment areas, he said.
By 2010 when the construction of the free trade area is
basically complete, most of the tariffs between China and ASEAN
will be abolished, he said.
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(Xinhua News Agency July 15, 2006)