China and ASEAN accelerate negotiations to upgrade their FTA
Under the proposed liberalization, for China and ASEAN countries (Brunei, Indonesia, Malaysia, Philippines, Singapore and Thailand), the tariff rates of certain tariff lines selected from respective sensitive lists including plastics, would be reduced to 5-0% by January 1, 2016.
The parties also aim to finalize negotiations on an upgraded version of the China-ASEAN Free Trade Area (FTA) which envisages economic and technological cooperation on goods and services trade and investments by the end of this year.
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