What Is Cepa Agreement

Under the new agreement, both Japan and the United Kingdom have committed to strengthening the implementation of sustainable development impact assessments. However, some changes have been rejected by civil society organisations, including the removal of the “Sustainable Development” chapter from the scope of the EPA`s dispute settlement provisions and the modification of the meeting of the joint dialogue with civil society every two years instead of the year envisaged under the EU-Japan EPA. The EPA is a win-win agreement that opens up new business opportunities for the mainland, Hong Kong and all foreign investors. For Hong Kong, THE EPA offers Hong Kong businesses the opportunity to have better access to the mainland. The EPA also benefits the continent, as Hong Kong serves as the perfect “springboard” for continental companies to reach the global market and accelerate the continent`s full integration into the global economy. Foreign investors are also welcome to set up businesses in Hong Kong to take advantage of the benefits of the EPA and jointly seize the great opportunities offered by the continental market. Both agreements and additions were signed in Chinese; The Chinese text is therefore the relevant text. The Hong Kong government generally offers an English translation with the kind permission, as English is one of Hong Kong`s official languages. [1] The Closer Economic Partnership Agreement on the Mainland and Hong Kong, short for Closer Economic Partnership (CEPA), is an economic agreement between the Government of the Hong Kong Special Administrative Region and the Central Government of the People`s Republic of China, signed on 29 June 2003. [1] A similar agreement, known as the Closer Economic Partnership Agreement on the mainland and in Macau, was signed on 18 October 2003 between the Government of the Macao Special Administrative Region and the Central Government of the People. Under the EPA, the importing party can set the validity of the original declaration for more than 12 months than the 12 months stipulated in the EU-Japan agreement. The new measures provide that a request for information may be made at the time of a review, either until the end of two years after importation or until the end of 38 months from the date of the establishment of the original declaration, with the most advanced date being chosen. A chapter on a national settlement in the trade agreement sets out the principles and disciplines to which both parties comply to ensure that measures relating to qualification requirements and procedures, technical standards and licensing requirements and procedures are not unnecessary barriers to trade in services.

Japan and the United Kingdom have attempted to include in the Japan-UK agreement the most modern provisions from the ongoing World Trade Organization negotiations. The additional obligations of Japan and the United Kingdom should aim to enhance transparency and security if they are to implement the regulatory procedures necessary to access the Japanese or British market. The “Rules of Origin” chapter allows EU intermediate consumption for British and Japanese products to be considered “local” in either the UK or Japan in order to benefit from duty-free trade.