SHANGHAI, Oct. 23 (SMM) -- The 15th Association of Southeast Asian Nations (ASEAN) Summit, the 12th ASEAN Plus Three Summit (with China, Japan and South Korea), and the 4th East Asia Summit (with China, Japan, South Korea, India, Australia and New Zealand) opened in Cha-am Hua Hin, Thailand on October 23rd, with highlights for meetings including how to further strengthen countries economic connection. Chinese officials said that China, Japan and South Korea will continue to discuss the topic to build a free trade zone in order to reinvigorate the sustainable development of East Asia.
The China-ASEAN Free Trade Area will be fully completed on January 1st 2010, and China will also actively promote the progress of economic integration in East Asia with 10 +3 as the main axis, which means tariffs will be cut or eliminated in China-ASEAN trade from 2010. Actually, China and the ASEAN have realized a zero tariff on more than 60% of products since January 1st 2009. The two sides will achieve a zero tariff on more than 90% of products by January 1st 2010, which will likely reduce the tariffs of nonferrous metals as well.
At present, China's import and export tariffs of #1 lead are 3% and 10%, respectively; import and export tariffs of #0 zinc are 0% and 3%, respectively; the ASEAN members include Singapore, Malaysia, Philippines, Indonesia, Brunei, Vietnam, Laos, Kampuchea, Thailand, and Burma.
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