The world’s largest Free Trade Agreement comes into force on 1 January 2022. The Regional Comprehensive Economic Partnership (RCEP) has been ratified by 10 of the 15 member states.
Details of the RCEP are provided in this bulletin from the Freight & Trade Alliance (FTA), of which ACA is a member, which a leading representative body for the international supply chain sector bringing together importers, customs brokers, freight forwarders and logistics service providers.
Regional Comprehensive Economic Partnership
The Regional Comprehensive Economic Partnership (RCEP) is a regional free trade agreement that will complement and build upon Australia's existing free trade agreements with 14 other Indo-Pacific countries.
The agreement provides that Australia, Brunei Darussalam, China, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam will allow type (c) DOO no later than 10 years after their respective dates of entry into force of this Agreement.
Annex 3B to the Agreement provides the minimum information requirements to be contained in a COO:
Declaration of Origin
Annex 3B to the Agreement provides the minimum information requirements to be contained in a DOO:
A suggested blank format for the DOO has not as yet been released.
Susan Danks - Head of Customs & Regulatory Compliance, FTA / APSA
Should you have any questions regarding implementation and benefits of the RECP please contact your Customer Service representative who will put you in touch with one of our Customs specialists.