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Regional Comprehensive Economic Partnership (RCEP)

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The Regional Comprehensive Economic Partnership (RCEP) is a multilateral economic partnership that encompasses nations in Northeast Asia, Southeast Asia (ASEAN), and Oceania. 

It provides for tariff elimination for about 92% of goods traded among RCEP Parties, including for:

  • Electric motors, turbines and generators; 
  • Mechanical equipment including pumps, appliances, and other advanced machinery; 
  • Electric accumulators, transformers, capacitors, batteries; 
  • Motor vehicles; 
  • Mineral ore, slag and ash; 
  • Mineral fuels, oils and other products; 
  • Metals and their articles e.g. iron and steel; 
  • Semiconductors devices and photovoltaic cells; 


Rule of origins apply to qualify for preferential tariff treatment, conditions to confer originating status include i. all non-originating materials used in the production of the good have undergone a change in tariff classification or ii. have a regional value content of not less than 40 per cent. 

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