China-Thailand Free Trade Agreement (Fta)

The amendments to the free trade area framework mainly concerned Vietnam. These changes should help Vietnam to reduce tariffs and set deadlines as guidelines. [14] At the Sixth China-ASEAN Summit in November 2002, the Heads of State and Government of China and ASEAN (AMS) signed the Framework Agreement on China-ASEAN Comprehensive Economic Cooperation at the Sixth China-ASEAN Summit. In November 2004, Chinese Premier Wen Jiabao and AMS leaders witnessed the signing of the Agreement on Trade in Goods of the Sino-ASEAN Free Trade Agreement, which entered into force in July 2005. In January 2007, the two sides signed the Agreement on Trade in Services, which entered into force in July 2007. In August 2009, both sides signed the investment agreement. The establishment of the China-ASEAN Free Trade Area strengthens the close economic and trade relations between the two sides and also contributes to the economic development of Asia and the world as a whole. As of January 1, 2010, the average rate of duty on Chinese products sold in ASEAN countries increased from 12.8% to 0.6% until the implementation of the free trade area by other ASEAN members. Meanwhile, the average tariff rate on ASEAN products sold in China fell from 9.8% to 0.1%. [13] Through 2015, total ASEAN trade in goods with China reached $346.5 billion (15.2% of ASEAN trade) and the ACFTA accelerated the growth of direct investment from China and trade cooperation. [6] ASEAN members have a total population of over 650 million.

Indonesia accounts for more than 40 per cent of the region`s population and the population has been the most opposed to the agreement. [17] [13] China first proposed the idea of a free trade area in November 2000. The Heads of State and Government of ASEAN and China therefore decided to examine economic integration measures in the region[1][2] The following year, they advocated in Brunei the creation of an ASEAN-China Free Trade Area. [3] The ASEAN-China Free Trade Area (ACFTA) is a free trade area between the ten member states of the Association of Southeast Asian Nations (ASEAN) and the People`s Republic of China. It was also the third largest volume of trade after the European Economic Area and the North American Free Trade Area. [12] [7] Overall, the China-Thailand Free Trade Agreement has not done any good for small farmers on both sides of the border. It was only favorable to businessmen who control the trade and can use it to expand their contract farming, such as for example. B from Thailand (ethnic Chinese) Charoen Pokphand Group. . . .