China and the Association of Southeast Asian Nations (ASEAN) agreed to remove all tariffs on merchandise goods by the end of the decade. The deal is part of a wider free trade agreement scheduled to be signed at a China-ASEAN leaders' summit in November. The two sides will begin to implement tariff cuts next year, China's Ministry of Commerce said. The 10-nation bloc is China's fifth largest trading partner, with two-way trade currently accounting for more than one-tenth of mainland trade volume. The two sides have been negotiating details of a trade pact for several months, but the breakthrough came in September when ASEAN members agreed to grant China market economy status.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved