India and Thailand readjust bearing tariffs

2022-06-20
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India and Thailand readjust bearing tariff Guide: after long-term trade negotiations, India and Thailand decided to reduce tariffs on 82 projects, including bearing products. This is in accordance with the free trade agreement of october2003, which indicates that all tariffs between the two countries will be eliminated by 2010. Finally, Pakistan, Myanmar and Sri Lanka all hope to

after long-term trade negotiations, India and Thailand decided to reduce tariffs on 82 projects, including bearing products. This is in accordance with the free trade agreement of october2003, which indicates that all tariffs between the two countries will be eliminated by 2010. Finally, Pakistan, Myanmar and Sri Lanka all hope to join the free trade zone

at present, the total annual trade volume between India and Thailand has exceeded US $2.1 billion, but Thailand is in a trade deficit. Because they are involved in high-value products and want to promote bilateral trade, they have made obvious adjustments in tariffs

at present, Thailand imposes 1% to 60% tax on Indian products, while India imposes 10% to 100% tax on Thai products. The most important thing in the trade agreement is that strict provisions have been made on raw materials and transformed products, especially bearings, an important product. According to the principle of converting products, the tariff of manufactured products depends on the range of changes between raw materials and finished products

the top four waste materials imported by India are still waste paper, waste plastic, mixed waste metal, metal and alloy waste. The manufacturing industry is economically strong and wants to classify direct products and transformed products. Thai negotiators believe that this practice will completely destroy the export of their five industrial exports, including bearing products

by the end of September, 2004, the tariffs on all commodities discussed in the negotiations will be reduced by half, and by the end of September, 2005, they will be reduced by half again. By September, 2006, all tariffs will be eliminated

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