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Asean China Fta Agreement

In keeping with the current regional and global economic landscape, the protocol amending the framework agreement for global economic cooperation between ASEAN and China was signed on 22 November 2015 at the 27th ASEAN Summit. The modernization of ACFTA aims to further streamline and improve economic cooperation, including changes to the agreement on trade in goods, services, investment and economic and technical cooperation (ECOTECH). In July 2005, a commodity trade development programme came into effect. Negotiations on a dispute resolution mechanism were concluded in 2004, with a view to their implementation in 2005. Negotiations on trade in services have been concluded and an agreement was signed in January 2007 and is expected to be implemented in July 2007. The china-ASEAN investment agreement was to be signed at the ASEAN summit in Thailand in December 2008. ASEAN members together have a population of more than 650 million. Indonesia accounts for more than 40% of the region`s population and its population has been the most opposed to the agreement. [17] [13] The free trade agreement reduced tariffs to zero to 7,881 categories of goods, or 90% of imported goods. [15] This reduction came into effect in China and in the original six ASEAN members: Brunei, Indonesia, Malaysia, Philippines, Singapore and Thailand. The other four countries are expected to follow in 2015. [16] This ACFTA in goods would soon be supplemented by services and investments, with aggressive monitoring of agreement negotiations on these relevant areas in 2005.

For more information, please contact: Division of External Economic Relations in eerd@asean.org A year later, a framework agreement was signed for the draft free trade agreement. The free trade agreement, a zero-tariff market of more than 1.7 billion people, is expected to enter into force in 2010 for the six ASEAN members (Brunei, Indonesia, Malaysia, Philippines, Singapore and Thailand) and in 2015 for the other four (Burma, Cambodia, Laos and Vietnam). Implementation of the framework agreement would be gradual. For example, the WIG agreement signed on 29 November 2004 is one of the enabling agreements under the framework agreement. It has set the terms and conditions for reducing and eliminating tariffs for tariff lines either on the normal route or on sensitive rail. The framework agreement was signed by eleven heads of government on 4 November 2002 in Phnom Penh, Cambodia. [4]: Hassanal Bolkiah (Sultan of Brunei Darussalam), Hun Sen (Prime Minister of Cambodia), Megawati Soekarnoputri (President of Indonesia), Bounnhang Vorachith (Prime Minister of Laos), Mahathir bin Mohamad (Prime Minister of Malaysia), Than Shwe (Prime Minister Gloria Macapagal-Arroyo (President of the Philippines), Goh Chok Tong (Prime Minister of Singapore), Thaksin Shinawatra (Prime Minister of Thailand), Phan Ven Khi (Prime Minister of Vietnam), Zhu Rongji (Prime Minister of the State Council of the People`s Republic of China). [4] [5] In October 2008, China signed a bilateral free trade agreement with ASEAN member Singapore.