Saturday, January 2, 2010

Six ASEAN Countries Start Zero-Tariff Trade

2/01/2010
Windsor Genova - AHN News Writer

Jakarta, Indonesia (AHN) - Six members of the Association of Southeast Asian Nations (ASEAN) started trading goods at zero tariff Friday when the bloc's free trade deal took effect.

The no-tariff import and export will apply to Brunei Darussalam, Indonesia, Malaysia, Philippines, Singapore, and Thailand. The move is aimed at developing a single market for the region and would mean savings for 600 million consumers in the said countries, the ASEAN secretariat said in a statement.

Among the products covered by zero tariff are air conditioners, chili, fish, soya sauces, motorcycle components, motor car cylinders, iron and steel, plastics, machinery and mechanical appliances, chemicals, prepared foodstuff, paper, cement, ceramic, and glass.

Four other members of ASEAN -- Cambodia, Laos, Myanmar, and Vietnam - will be covered by zero-tariff by 2015 under the bloc's free trade agreement forged in 1993.

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