China-Asean free-trade pact comes into force

China-Asean free-trade pact comes into force
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First Published: Fri, Jan 01 2010. 09 57 PM IST
Updated: Fri, Jan 01 2010. 09 57 PM IST
Bangkok: A free-trade agreement between China and South-East Asia comes into force on Friday, consolidating a sixfold surge in economic activity over the past decade between countries representing a quarter of the world’s population.
The pact expands a limited 2005 trade area between China and the 10-member Association of Southeast Asian Nations (Asean), scrapping tariffs on around 90% of goods. By 2015, duties must be cut to no more than 50% on highly sensitive items.
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First Published: Fri, Jan 01 2010. 09 57 PM IST
More Topics: China | Asean | Trade | Export | Import |