| China Recuts Tariff for Commodities from 5 Asian Countries |
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| Thursday,August 24,2006 Posted: 04:35 BJT(2035 GMT) Ministy of Commerce of China |
Recently, discussed by Customs Tariff Commission of the State Council and approved by State Council, from Sep 1, 2006, according to the third negotiation on tariff of Asian-Pacific Trade Agreement, China will cut tariff on over 1,700 tax items origin from Korea, India, Sri Lanka, Bengal and Laos and implement preferential rate on some commodities origin from Laos and Bengal.
Products enjoy the preferential treatment and tariff rate including medicine, chemical products, textile, metal product, mechanical and electrical product, and auto and parts, etc. Meanwhile, some products origin from China also enjoy preferential tariff rate in the above 5 countries, such as chemical product, wooden product, plastic product, leather, metal product and mechanical and electrical product. Comparing with current cutting tariff on Asian Pacific Trade Agreement, newly cut tariff will expand in commodity scale and preferential extent, which explore East Asian and South Asian Market in China’s favor, enlarge trade affairs among member countries of Asian Pacific Trade Agreement and promote cooperation in Asian region.
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