|
BIZCHINA / Macro Economy |
China to cut tariffs on Pakistan imports from July 1By ()
Updated: 2007-06-26 16:11 China will start cutting tariffs on products imported from Pakistan from July 1, in line with the free trade agreement signed between the two countries last November, the Ministry of Finance said in a statement published on its website. Under the agreement, China will cut import tariffs on Pakistani goods available in about 3,975 product catalogues by an average of 11 percent, until January 1, 2012. The reduction is the first phase of two tariff cuts under the free trade agreement, and means the average tariff on the products imported from Pakistan will be about 8 percent once this phase is implemented. Meanwhile, Pakistan will reduce tariffs on some Chinese products, such as beef and mutton, chemicals and machinery products, the ministry said. The ministry also said China will grant tariff-free status to 256 goods imported from 26 underdeveloped African countries from July 1. (For more biz stories, please visit Industry Updates)
|
|