APTA amendment to help Asian economic integration: MOC
BEIJING, July 1 (Xinhua) -- The tariff-cut amendment of the Asia-Pacific Trade Agreement (APTA) became effective Sunday, with China's Ministry of Commerce saying it would facilitate regional economic integration in Asia.
"The amendment will provide member countries new economic impetus, prompt continued trade increases, facilitate economic integration and help further materialize the Belt and Road Initiative," the ministry said Sunday in an online statement.
According to the adjustment, six APTA members including China, India, the Republic of Korea and Sri Lanka cut tariffs by 33 percent on average for products under 10,312 tariff codes. Some products from less-developed Bangladesh and Laos will enjoy special reductions of 86 percent.
It came after a new arrangement was reached during the fourth round of tariff concession negotiations among the six APTA members in January 2017.
In May 2001, China joined the then Bangkok Agreement, whose name was changed to the APTA in November 2005. It aims at promoting economic and trade cooperation among its members through the adoption of trade liberalization measures.
Your Comment
Name E-mailRelated News
-
-
China to launch two international commercial courts
BEIJING,June28(Xinhua)--China'sSupremePeople'sCourt(SPC)willlaunchtwointernationalcommercialcourtsthismonth,aseniorSPCofficialsaidThursday.
-
-
Xi to chair SCO summit in Qingdao
BEIJING,May28(Xinhua)--ChinesePresidentXiJinpingwillchairthe18thShanghaiCooperationOrganization(SCO)Summit,StateCouncilorandForeignMinisterWangYiannouncedonMonday.
-
-
China, Myanmar to have closer parliamentary cooperation
LiZhanshu(R),chairmanoftheStandingCommitteeoftheNationalPeople'sCongress(NPC),holdstalkswithMyanmar'sUnionParliamentSpeakerUMahnWinKhaingThaninBeijing,capitalofChina,June26,2018.
-
-
China-Pakistan Economic Corridor helps boost Pakistan's economy: PM
FAISALABAD,Pakistan,May29(Xinhua)--PakistaniPrimeMinisterShahidKhaqanAbbasisaidtheChina-PakistanEconomicCorridor(CPEC)andcooperationfromChinahelpedPakistanemergeasarisingeconomyintheworld.
-
-
China, EU agree to boost economic and trade relations
BEIJING,May24(Xinhua)--Chinaiswillingtodeveloplong-term,stableandwin-wineconomicandtraderelationswiththeEuropeanUnion(EU),andurgesmorepracticalcooperationinthisarea,ChineseVicePremierLiuHesaidThursday.