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China, ASEAN to advance trade, investment with upgraded FTA

2017-09-14 09:14:48       source:Xinhuanet

September 13, 2017

At Puzhai Port, a trade zone bordering Vietnam in south China's Guangxi Zhuang Autonomous Region, trucks carrying dragon fruit, durian and other tropical fruit passing through the streets of one of the busiest trade hubs in the region.

Most commodities traded here are tariff-free thanks to a free trade agreement that went into effect in 2010. The China-Association of Southeast Asian Nations (ASEAN) Free Trade Area (FTA), the largest regional FTA in the world in terms of population, has reduced tariffs on more than 90 percent of goods traded between ASEAN and China to zero.

An updated version of the FTA is expected to further facilitate trade, scale up bilateral investment, and encourage technological cooperation.

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