AFTA reviews progress in tariff reductions<\/p>\n
PHUKET, Thailand (AFP): The ASEAN Free Trade AREA (AFTA)
\nCouncil yesterday began reviewing the progress the six member
\nstates have made in reducing tariffs on the goods traded within
\nthe group.<\/p>\n
The ASEAN nations -- Thailand, Brunei, Indonesia, Malaysia,
\nthe Philippines and Singapore -- agreed on the tariff reduction
\nscheme at the last meeting of economic ministers, in Chiang Mai,
\nnorthern Thailand, last September.<\/p>\n
The scheme calls for reducing to no more than five percent the
\ntariffs each nation charges on many items traded to ASEAN
\npartners. The cuts are to be made over a period of 15 years.
\nSo far, 2,800 items are on the tariff reduction list. But 282
\nitems are on another \"sensitive\" list of items the countries want
\nto protect longer and at higher rates, and 525 items are excluded
\nfrom tariff cuts completely.<\/p>\n
Senior economic officials from the six nations have been
\nconferring here this week, in part to find ways to reduce the
\n\"sensitive\" and \"excluded\" lists, Krirk-krai Jirapaet, chairman
\nof the ASEAN senior economic officials meeting, told reporters on
\nWednesday.<\/p>\n
\"The idea is that, one, (ideally) nothing be excluded, two,
\nthat the list be as short as possible, and three, that we might
\nhave flexibility on some sensitive items,\" Krirk-krai said. \"This
\nwill be discussed later.\"<\/p>\n
The sticking point reportedly has been the inclusion of non-
\nprocessed agricultural items, about which all six countries are
\nsensitive.<\/p>\n
The results of the discussions by the technocrats were to be
\nbrought before the AFTA Council meeting here yesterday afternoon.<\/p>\n
Any action taken by the council would be referred to the
\nregular EOM meeting this September in Brunei. The discussions
\nhere are informal, with the conference billed as a \"retreat\" for
\nthe ministers.<\/p>\n
Golf was on the agenda Thursday morning and again Saturday.
\nThe economic ministers are expected to agree at their Brunei
\nmeeting to recommend further tariff reductions. These will be put
\nto the ASEAN heads of state at their summit this December in
\nBangkok.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/afta-reviews-progress-in-tariff-reductions-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}