»»ASEAN Plans To Sign Free Trade Agreement with Japan in November
The Association of Southeast Asian Nations (ASEAN) plans to sign a free trade pact with Japan in November. Ong Keng Yong, secretary-general of the ASEAN, said the bloc’s economic ministers and their Japanese counterpart would discuss ways to free trade in goods during talks Friday.
The two sides will spell out the percentage of total trade that will be tariff-free by an agreed date, the amount that will be subject to a gradual tariff reduction, and sensitive items that will be excluded altogether because of domestic concerns, he said.
Ong Keng Yong, secretary-general of ASEAN, said the bloc’s economic ministers and their Japanese counterpart would discuss ways to free trade in goods during talks Friday. […]
Ong said Japan has proposed that 1 percent of its trade with ASEAN be excluded from tariff reductions but didn’t specify the items to be excluded. Tariffs on 88 percent to 92 percent of total trade are expected to be fully cut and the rest to beremoved gradually, he said.
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