SHANGHAI: Import tariffs on around 400 items traded between Asean and China will be cut to 0-5%, starting from Jan 1, 2018, as part of the continuing stages of the Asean-China free trade agreement (FTA). The pact is expected to help double trade value between the two sides to UScopy trillion (32.7 trillion baht) by 2020.
Deputy Commerce Minister Chutima Bunyapraphasara said once the 400 items on the sensitive list are removed, the final stage of cutting tariffs for very sensitive items can begin.
Most of the goods on the sensitive list are agriculture products and major commodities that have been protected for a long time with high import tariffs to help local farmers from a flood of imports through the FTA.