Home / Knowledge / News / Textiles / China & ASEAN to liberalize trade from January 2010
China & ASEAN to liberalize trade from January 2010
20
Aug '09
The ASEAN-China Free Trade Agreement (FTA) was signed in Bangkok on Saturday. An official from Zhejiang Long Li Xin Textile Co Ltd said that that he will go a business trip with two other colleagues to Indonesia, Malaysia, Thailand and other ASEAN member countries.

The China-ASEAN FTA will come in to effect from January 2010, from when Chinese textile products will be able to enter the ASEAN market under zero-tariff. The official says their purpose of this trip is to make a business study of the ASEAN market.

In accordance with the agreement between China and ASEAN, the two sides will open markets to each other from January 1 next year, trade tariffs of more than 90 percent of their products (about 7000 goods) will be reduced to zero rating.

Shaoxing Province has increased economic and trade exchanges with ASEAN since 2002 when China and ASEAN signed "China - ASEAN Framework Agreement on Comprehensive Economic Cooperation".

From 2002 to 2008, annual growth of trade volume averaged as high as 38.1 percent. ASEAN became the third largest trading partner for Shaoxing Province in 2008.

Shaoxing Custom's statistics reveal that Shaoxing's trade with ASEAN amounted to $860 million in the first seven months this year, of which exports reached $640 million. Shaoxing's exports to ASEAN are mainly machinery and electronic products, textiles and garments.

Statistics also show that Shaoxing's textile and apparel imports and exports to ASEAN registered US $450 million from January to July this year. The FTA will also mean that more products, particular to the ASEAN region will find their way in to the Chinese markets.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search