VIVAnews - Starting from January 1, 2010, six ASEAN member countries like Brunei Darussalam, Indonesia, Malaysia, Philippines, Singapore, and Thailand will be applying zero percent tariff on interstate export and import.
The six countries will have 7,881 posts of tariff been cut to zero.
A press release from the ASEAN HQs in Jakarta mentioned that the additional tariff will result in the decrease in applied tariff amongst the six countries from 0.79 percent in 2009 to 0.05 percent in 2010.
In 2008, the value of imported commodities in ASEAN countries for the 7,881 tariff worth US$22.66 billion, 11.8 percent of the total import value of the six ASEAN member countries.
The cut tariff includes final consumer products such as air conditioners, fish and soya sauce as well as intermediate raw material like motorcycle components. Other products include iron and steel, plastics, machines, mechanical items, chemical goods, paper, cement, ceramics.
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Translated by: Bonardo Maulana Wahono
