Imagination.RCEP (2)- Great News to the original commodity!
RCEP Rules of origin has a great impact， it will make the global business more successful.
The “origin” of goods is described figuratively as the "economic nationality" of the goods, the rules of origin play an important role in international trade.
The RCEP agreement, which come into force on January 1, 2022, also makes new provisions on the rules of origin of goods. What impact will these new provisions bring on the import and export companies?
Highlights of RCEP rules of origin:
RCEP has broken the structure of ASEAN, Japan, South Korea, Australia, and New Zealand implementing the free trade agreement respectively, and it's the first time that 15 parties in one free trade agreement, RCEP just like an "integrator" of the free trade agreement.
The signing of RCEP is a milestone in regional of East Asian economic integration, which will greatly promote the prosperity of regional trade and economic integration. Rules of origin is an important part of RCEP and one of its most innovative, influential, and powerful chapters. In the future, the implementation of RCEP rules of origin will create a relatively stable external environment for foreign trade of Member States and bring important development opportunities for import and export companies.
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