The New Asia Pacific certificate of origin will be adopted f

&On July 1, 2018, the outcome document of the fourth round of tariff reduction in the Asia Pacific Trade Agreement(hereinafter referred to as the "agreement") came into effect. China, India, South Korea, Sri Lanka, Bangladesh and Laos, the six member countries of the agreement, will cut tariffs on 10312 tax items, with an average reduction rate of 33%. In addition, China, South Korea, India and Sri Lanka also granted a total of 1259 preferential tax rate arrangements for products from Bangladesh, the least developed country under the agreement, and 1251 preferential tax rate arrangements for Laos, with an average reduction rate of 86%.

&The agreement, formerly known as the Bangkok agreement signed in 1975, is a preferential trade arrangement among developing countries to promote South South cooperation under the aegis of the United Nations Economic and Social Commission for Asia and the Pacific. China formally joined the agreement in 2001. The agreement is the first preferential trade arrangement that China has participated in, covering nearly 3 billion people. It is also the only preferential trade agreement in China covering east Asia and South Asia and being implemented. In October 2007, the member states of the agreement started the fourth round of tariff reduction negotiations. After nine years of consultation, the Member States officially concluded the negotiations in August 2016, and signed the amendment at the Fourth Ministerial Council of the agreement in January 2017.

&The amendment is an important achievement of the nine-year negotiation among the member states of the agreement. It is the enrichment, improvement, supplement and promotion of the agreement. It reflects the realistic needs and good prospects of the members to further deepen economic and trade cooperation and achieve mutual benefit and win-win results. One belt, one road, and another one, will be the effective implementation of the amendment, which will provide new help to the economic development of the member states of the agreement, promote trade growth among Member States, further promote regional economic integration and &ldquo in Asia, and &rdquo in the same area.

&From July 1, 2018, the New Asia Pacific certificate of origin will adopt the new version of the Asia Pacific certificate. The color of the new version of the Asia Pacific certificate will be changed to green instead of pink. At the same time, the 6-digit HS code will be displayed on the new version of the Asia Pacific certificate.