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ASEAN-China: Agreement on Trade in Goods

ASEAN-China: Agreement on Trade in Goods. Signed in 2004 by the ASEAN Economic Ministers and China’s Minister of Commerce Implementation began on 1 July 2005 for ASEAN (Brunei Darussalam, Indonesia, Myanmar, Malaysia, Singapore, and Thailand) and China

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ASEAN-China: Agreement on Trade in Goods

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  1. ASEAN-China: Agreement on Trade in Goods • Signed in 2004 by the ASEAN Economic Ministers and China’s Minister of Commerce • Implementation began on 1 July 2005 for ASEAN (Brunei Darussalam, Indonesia, Myanmar, Malaysia, Singapore, and Thailand) and China • Covers substantial reduction or elimination of tariffs and other barriers to establish the ASEAN-China Free Trade Area (ACFTA) by 2010, under the following tracks: • Normal Track – 2005-2010, with flexibility up to 2012 • Sensitive Track – 2012 up to 2018

  2. Normal Track: ASEAN-6 & China Tariff Reduction Modality

  3. Sensitive Track: Tariff Reduction/Elimination Modality ASEAN-6 and China • Two tracks : Sensitive (SL) and highly sensitive items (HSL) • Initial target : For SL, tariffs will be reduced to 20% in 2012 : For HSL, no commitment in 2012 • Ending rate : 0-5% (SL) : 50% (HSL) • Ending date : 2018 (SL) : 2015 (HSL) • Article 17(2) : Review ST in 2008 with a view to improving market access condition of sensitive products, including further possible reduction of the number of products in the ST

  4. Comparative Tariff Reduction/Elimination Modality

  5. ASEAN-China FTA:Executive Orders • Executive Order No. 485 (29 December 2005) implements EHP concessions • Executive Order No. 487 (12 January 2006) implements first tranche of tariff reduction under NT, i.e. 2005 – 2008 • Executive Order No. 613 (17 April 2007) implements second tranche of tariff reduction under NT, i.e., 2007-2008 • Executive Order No. 618 (23 April 2007) implements reciprocal tariff rate arrangement

  6. ASEAN-Korea Free Trade Area Trade in Goods (TIG) Agreement • Signed in December 2006 • Provides for the substantial reduction/elimination of tariffs and other barriers to trade by 2010, with flexibility up to 2012 • Various Tracks • Normal Track (2006-2010) • Sensitive Track (2012-2016)

  7. Comparative Tariff Reduction/Elimination Modality

  8. Modality for Tariff Reduction and Elimination under Normal Track

  9. ASEAN-Korea FTA:Executive Orders • Executive Order No. 639 (21 July 2007) implements NT concessions • Executive Order No. 638 (21 July 2007) implements reciprocal tariff rate arrangement

  10. Contact Address Bureau of International Trade Relations Department of Trade and Industry 4/F Department of Trade and Industry - International Bldg. 375 Sen. G. Puyat Avenue Makati City Tel. No. 897 – 8289 / 897-8292 / 897 – 8290 Fax. No. 890-5149

  11. Thank You!

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