China, Philippines to implement RCEP tariffs
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E-mail Xinhua, May 16, 2023
This aerial photo taken on Feb. 23, 2023 shows the Qinzhou Port in south China's Guangxi Zhuang Autonomous Region. [Photo/Xinhua]
China will adopt the tariff rates it pledged under the Regional Comprehensive Economic Partnership (RCEP) agreement on certain imports from the Philippines on June 2 this year, the Customs Tariff Commission of the State Council has said.
The annual rates for subsequent years will be implemented on Jan. 1 each year.
The move means that by June 2 this year, the RCEP agreement will be in effect for all 15 members.
The RCEP agreement was signed on Nov. 15, 2020, by 15 countries in the Asia-Pacific region -- 10 members of the Association of Southeast Asian Nations, China, Japan, the Republic of Korea, Australia and New Zealand -- after eight years of negotiations, which started in 2012.
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