Asean-China Free Trade Agreement 2019

All this presupposes that the agreements are faithfully implemented. This is not an easy task, as national laws may need to be amended to take account of these new agreements. Since the ACFTA was first discussed, there have been concerns about the potential negative effects on output and employment in sensitive sectors in ASEAN member states. For example, Indonesian producers requested a delay in the implementation of the initial ACFTA tariff reduction scheme for approximately 228 items, without success. But what will undoubtedly be the impact of the revaluation of the agreement on these flows? The main changes concern the simplification of procedures relating to rules of origin (RO) and certificates of origin; improving China`s service obligations in the construction, construction, sports, securities and tourism sectors; strengthening provisions on investment promotion and facilitation; and develop e-commerce skills, especially for micro, small and medium-sized enterprises. ACFTA Upgrade Protocol (2019) ANNEX 1 ACFTA Revised Rules of Origin After August 31, 2019, all parties are required, under the ASEAN-China Free Trade Agreement, to adopt the international standard for white A4 sizes of Form E. The updated Form E has been improved and provides a streamlined process for completing information. The main updates to Form E are as follows: preferential margins for trade in parts and components and other intermediate goods are expected to be low or non-existent due to different duty-free regimes. With regard to trade in electronic parts and components that dominate supply chains in South-East and East Asia, the WTO Information Technology Agreement provides, for example, for duty exemption for countries that are not signatories.

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