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China and ASEAN accelerate negotiations to upgrade their FTA

by ChemOrbis Editorial Team -
  • 13/10/2015 (15:24)
According to media reports, China and the Association of Southeast Asian Nations (ASEAN) have decided to speed up talks on the Liberalization of Sensitive Lines (SL), moving the scheduled time for the conclusion of talks to 2016, earlier than the initially scheduled date of 2018. Parties are reportedly free to select the products to be accelerated under the SL.

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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