Home / Knowledge / News / Textiles / ASEAN countries brace for Chinese assault post FTA
ASEAN countries brace for Chinese assault post FTA
04
Jan '10
The comprehensive China - ASEAN Free Trade Agreement, which came into effect from January 1 2010, will attract zero-duty tariffs on about 90 percent of products traded between only six countries of ASEAN and China.

These six countries which include Brunei, Philippines, Indonesia, Malaysia, Thailand and Singapore) will implement just 0.6 percent tariff on the rest of the other 10 percent Chinese products, while China will reciprocate with just 0.1 percent duty.

Four other new members of ASEAN; Vietnam, Laos, Cambodia and Myanmar, will postpone tariff reduction to 2015, by which time, 90 percent of the products will attract zero tariffs.

As a precursor to the FTA implemented from January 1, 88.48 percent of goods from ASEAN countries attracted under less than 5 percent tariff and average tariff rates reduced from 2.58 percent in 2007 to 1.95 percent in 2008.

Currently China's trade deficit with the ASEAN has narrowed. In the first half of 2009 China - ASEAN trade volume fell 23.8 percent over the same period of the previous year, displaying subtle signs.

There is a fear and worry among ASEAN countries this FTA will only further the interests of China and help it in increasing its trade surplus to an even greater extent, which has led to defensive moves from Indonesia and Vietnam.

Fibre2fashion News Desk


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Urmil Arya

Sushila International, a well established textile organisation established ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Yash P. Kotak
Bombay Hemp Company

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

Ritu Kumar
Label Ritu Kumar

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

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search