New ASEAN states looking to join AFTA<\/p>\n
JAKARTA (JP): Cambodia, Laos and Myanmar are to submit their
\ninclusion list of products for the Common Effective Preferential
\nTariffs (CEPT) scheme when they are admitted into the Association
\nof Southeast Asian Nations (ASEAN) in July.<\/p>\n
The presentation of the CEPT inclusion list is one of the
\nfirst steps taken to join the ASEAN Free Trade Area (AFTA).<\/p>\n
\"As a result of the very close contact and assistance we at
\nthe secretariat have been giving, we have helped them to draft
\nthe initial package offer for the CEPT products,\" ASEAN Secretary
\nGeneral Dato Ajit Singh said here yesterday.<\/p>\n
He added that the three countries had already submitted an
\nindicative inclusion list to ASEAN senior economic officials in
\nApril.<\/p>\n
\"They are supposed to give us the final inclusion list the day
\nthey join ASEAN,\" Singh said here yesterday.<\/p>\n
ASEAN is a socioeconomic organization which comprises Brunei,
\nIndonesia, Malaysia, the Philippines, Singapore, Thailand and
\nVietnam.<\/p>\n
The CEPT is the main instrument designed to make ASEAN a free
\ntrade area by 2003. Through the scheme, tariffs of all
\nmanufactured goods will be reduced to 5 percent or less.
\nAgricultural products are excluded from the CEPT scheme.<\/p>\n
Under the CEPT scheme each ASEAN member draws up a product
\nlist whereby goods are divided into: inclusion list, temporary
\nexclusion list, sensitive list and the general exception list.<\/p>\n
According to Ajit Singh the prospective members have decided
\nto submit the final product list by the 29th ASEAN Ministerial
\nMeeting in October.<\/p>\n
As new members, Cambodia, Laos and Myanmar have a 10-year
\ngrace period starting in 1998 before they are fully integrated
\ninto AFTA in 2008.<\/p>\n
Ajit claimed that all three countries are currently doing
\ntheir utmost to meet these requirements.<\/p>\n
\"As far as this AFTA is concerned the preparations they have
\nbeen undertaking has been quite extensive. In fact they have been
\nworking so hard that I'm told that in many of their ministries
\nthey've left work aside and are concentrating on fulfilling the
\nvarious obligations under AFTA,\" he said.<\/p>\n
Myanmar and Laos seem the readiest to comply with the CEPT
\nscheme.<\/p>\n
Sixty-eight percent of Myanmar's tariff lines are at 5 percent
\nor less while Laos' has half of its tariff lines at that same
\nlevel.<\/p>\n
Cambodia has only 3.5 percent of its tariff lines at the
\nrequired 5 percent or less level.<\/p>\n
However nearly 45 percent of their tariff level stands at
\nbetween 6 to 10 percent.<\/p>\n
Of the three, only Myanmar is a member of the World Trade
\nOrganization.<\/p>\n
Ajit Singh yesterday also confirmed that a meeting of ASEAN
\neconomic ministers will be held here next week.<\/p>\n
The special half-day meeting was called to draft an economic
\nvision for the grouping in the next century. (mds)<\/p>\n
Singapore -- Page 12<\/p>\n
Photo -- Page 13<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/new-asean-states-looking-to-join-afta-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }