The ACFTA has opened up major opportunities for ASEAN (including Singapore) and Chinese exporters,  and would further strengthen trade links between ASEAN and China.

Under the ACFTA, tariffs on certain products were reduced before the onset of the FTA.  This is known as the Early Harvest Programme (EHP), which came into effect on 1 January 2004. 

The six ASEAN countries and China will eliminate tariffs on 90% of their products by 2010, while the remaining ASEAN countries, Cambodia, Laos, Myanmar and Vietnam have until 2015 to do so. 
Sectors where companies can get preferential access into the Chinese market include chemicals, petrochemicals, electronics, and food and beverage.  For China for instance, savings from these preferential tariff concessions provides cheaper inputs for businesses on a range of products and will enable exports from the region to be more competitive vis-à-vis other foreign exports to China.