Ministry of Finance to cut tariffs on imports from five Asian countries

18 Aug '06

1 min read

China will cut tariffs on more than 1,700 kinds of imported products from India and four other Asian nations beginning from September 1 as part of the tariff concession arrangement reached under the Asia-Pacific Trade Agreement, the Chinese Ministry of Finance said.

Chinese exports to the five nations, namely, India, the Republic of Korea, Laos, Sri Lanka and Bangladesh, will also enjoy tariff concessions, the Ministry said.

Products affected by the new arrangement include agricultural products, medicines, chemicals, textiles, metal products, mechanical and electrical products, motor vehicles and spare parts.

The new arrangement, reached during the third round of tariff concession negotiations among the six members of the Asia-Pacific Trade Agreement, will help boost trade ties and regional cooperation, the ministry said.

China joined the then Bangkok Agreement in May 2001. The organization changed to its current name during its first ministerial meeting in Beijing in late 2005.

China's trade with members of the organization totals 134.3 billion US dollars.

Ministry of Commerce

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