Importers please take note. The next wave of duty reductions are about to be implemented. For example effective 1st July clothing & footwear industries will benefit with duty rates dropping from 12.5% to 10%. This round of reductions however is the last posted incremental reduction until 30th June 2011.
Further to the above reduction effective 1st January 2010 the next phase of the "China Free Trade Agreement" comes into effect. This will apply for goods qualifying as Chinese origin only, again id we take the footwear & clothing industries posted reductions are as follows,
8.1% effective Jan 2011
5.4% effective Jan 2012
2.7% effective Jan 2013
0% effective Jan 2014