Interpretation of RCEP agreement - regional comprehensive ec

        There are many and detailed descriptions of RCEP agreement on the Internet, but in the fast-paced life of modern society, we don't have so much time and energy to carefully read and study the contents of RCEP agreement, so that RCEP agreement can be fully applied in actual trade. In order to facilitate our import and export enterprises to quickly and comprehensively understand the content of RCEP agreement, this website passes & quot; Vernacular & quot; The main contents of RCEP agreement are summarized

1、 What is RCEP agreement:

        RCEP agreement is the regional comprehensive economic partnership agreement, which is called regional comprehensive economic partnership agreement in English
Generally speaking, after many discussions, 15 countries finally signed agreements to form a regional organization. The relationship between organizations is called regional comprehensive economic partnership, and the signed agreements are called regional comprehensive economic partnership agreement. The regional comprehensive economic partnership agreement(RCEP) will enter into force on January 1, 2022.

2、 RCEP member states:

        The RCEP agreement includes 15 member states: Indonesia, Malaysia, Philippines, Thailand, Singapore, Brunei, Vietnam, Laos, Myanmar, Cambodia, China, Japan, South Korea, Australia and New Zealand

3、 Role of RCEP agreement:

        Reduce the commodity import and export tax rate, so as to reduce the cost of import and export trade, promote trade exchanges among Member States, realize the optimal allocation of resources, and finally achieve common economic development

4、 Differences between RCEP agreement and other trade agreements:

        1. High degree of openness: more commodities are covered
        2. Large scale of trade: 15 member states
       3. Wider scope of application: regional accumulation rules of new original ingredients and back-to-back certificate of origin
       4. The reduction and exemption of commodity tariff is strong: many products realize 0 tariff

5、 Time of annual tariff reduction under RCEP agreement:

        January 1: Malaysia, Thailand, Singapore, Brunei, Vietnam, Laos, Myanmar, Cambodia, China, South Korea, Australia and New Zealand
        April 1: Indonesia, Japan, Philippines

6、 How to make full use of RCEP agreement and free trade agreement:

        As mentioned above, what is closely related to our import and export enterprises, or the most concerned point, should be how much tariff can be reduced or exempted under the agreement benefits during the import and export circulation,
So when our enterprises are engaged in import and export trade, do they choose to handle the certificate of origin of RCEP agreement or the certificate of origin of free trade agreement? This has to be analyzed in detail, because different commodities are under the same agreement,
Tariff reduction and exemption are different, so you have to query the corresponding tax rate under each agreement through commodity HS code, and finally select the agreement with low exchange rate to handle the corresponding certificate of origin

7、 How to operate export goods under RCEP agreement to reduce or exempt tariffs:

        Handle the certificate of origin of RCEP agreement or the declaration of origin.