Beijing:
China will enter into FTA deals with its trading partners
from next year. According to the finance minister of China,
Jin Renqing, the country will honour its free trade area
(FTA) agreements with its trading partners, levy negotiated
tariffs on some Indian goods and will also offer special
preferential tariff rates to about 30 least developing
countries next year.
Zero
import tariff rates will be applied to 'early harvest'
products made by the 10 members of the Association of
Southeast Asian Nations (ASEAN) as of 2006 as per the
China-ASEAN free trade area agreement, said Jin, who is
also the chairman of Customs Tariff Commission of the
State Council, Chinese cabinet.
China
will impose negotiated tariff rates on 928 products manufactured
in India, South Korea, Pakistan, Bangladesh and Laos as
per its commitment under the Bangkok agreement.
China
will also impose agreed tariff rates on 2,244 categories
of products originating from Pakistan according to its
'early harvest' arrangement for the Sino-Pakistan free
trade area deal.
Products
from Hong Kong and Macao, both Special Administrative
Regions of China, will enjoy zero import tariff rates
as
from 2006 according to the arrangement between the mainland
and the two special administrative regions for closer
economic relations.
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