Cepa Trade Agreement

Many of the amendments to CEPA between Japan and the United Kingdom reflect the changing circumstances of the United Kingdom, so they are more technical than substantial. This includes deleting and replacing references to the EU and changing the territorial application of the agreement. However, the comparison of the two agreements, which include trade in goods, services (including financial services), intellectual property and digital trade, has undergone a number of important changes. These improvements are summarized below. Trade in services – Hong Kong`s service providers enjoy privileged treatment upon entry into the continental market in different service sectors. Hong Kong`s professional organisations and mainland regulatory authorities have also signed a number of agreements or understandings on the mutual recognition of professional qualifications. Trade in goods – All products originating in Hong Kong can be exempted from import duties on the mainland, accompanied by a Certificate of Origin – CEPA (CO (CEPA) for import into the mainland, upon completion of CEPA Rules of Origin (ROOS) and any shipment of goods exported to the mainland. In order to deepen the liberalization and facilitation of trade in goods between the two parties, the Agreement on Trade in Goods contains four separate chapters on “Customs Procedures and Trade Facilitation”, “Sanitary and Phytosanitary Measures”, “Technical Barriers to Trade” and “Trade Facilitation Measures in the Guangdong-Hong Kong-Macao Greater Bay Area”. The chapter on rules of origin allows EU inputs for Uk and Japanese products to be considered “local” either in the UK or Japan, in order to qualify duty-free. This is an important outcome for companies whose supply chains transit through the EU, Japan and the UK. Japan has also proposed to reduce paper requirements for access to preferential tariffs compared to the EU-Japan agreement. Australia`s trade with Indonesia amounted to $11.7 billion in 2018/19, making Indonesia our 14th largest trading partner.

Raw materials and agricultural products are one of Australia`s top exports to Indonesia, one of Australia`s largest markets for coal, oil, wheat and live animals. The agreement between Japan and the UK also provided for the strengthening of the annex to regulatory cooperation, including the establishment of an ongoing regulatory cooperation forum between HM Treasury, the Bank of England, the Financial Conduct Authority and the Japan Financial Services Agency. Australia has a great chance of developing its trade, investment and economic cooperation relations with Indonesia. A chapter on a national regulation of the trade agreement contains principles and disciplines that both parties agree to respect in order to ensure that measures relating to qualification requirements and procedures, technical standards, licensing requirements and procedures do not constitute unnecessary barriers to trade in services. Japan and the United Kingdom have attempted to incorporate into the agreement between Japan and the United Kingdom innovative provisions resulting from the ongoing world trade organization negotiations. Considering that the additional commitments by Japan and the United Kingdom should aim at increasing transparency and certainty in the implementation of the regulatory procedures necessary for access to the Japanese or United Kingdom market. . . .