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ASEAN free trade 2010
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ASEAN FREE TRADE 2010
The ASEAN leaders have agreed to eliminate all import duties by 2010 for the six oldest members of ASEAN and by 2015 for the newest members. The purpose is to increase commerce in the region.
The ASEAN-6, which is the six oldest member states (Indonesia, Malaysia, Philippine, Singapore, Thailand, and Brunei), has already reduced their tariffs significantly the last years, and the tariff on most products is already about 0-5 percent. It has long been a plan to cut the tariffs to 0 percent by 1 January 2010. At the 15th ASEAN summit in October 2010 it was stated that tariff reduction would be completed on time. Not included in the no tariff is; temporary exclusions, sensitive agricultural products, and general exceptions. Temporary exclusions refer to products for which tariffs will be lowered to 0-5% but which are being protected temporarily by delayed tariff reduction. Sensitive agricultural products include commodities such as rice. General exceptions refer to products which an ASEAN member deems necessary for the protection of national security, public morals, the protection of human, animal or plant life and health, and protection of articles of artistic, historic, or archaeological value.
It is target that the rest of the members of ASEAN will eliminate all tariffs by 1 January 2015 (Vietnam, Burma, Laos, and Cambodia).
ASEAN is seeking to transform ASEAN “into a region with free movement of goods, services, investment, skilled labour, and free flow of capital” by 2015. In this connection it is considered as necessary to cut the tariff.
Danish companies established in an ASEAN country will, depending of the country be able to export to other countries with in the area with no duty added already by 2015.
