Page 13 - Regional Comprehensive Economic Partnership (RCEP)

(ee) Trade Facilitation Agreement means the Agreement on CHAPTER 2
Trade Facilitation in Annex 1A to the WTO Agreement;
TRADE IN GOODS
(ff) TRIPS Agreement means the Agreement on Trade-
Related Aspects of Intellectual Property Rights in Annex
1C to the WTO Agreement; SECTION A
GENERAL PROVISIONS AND MARKET ACCESS FOR GOODS
(gg) Understanding on the Balance-of-Payments
Provisions means the Understanding on the Balance-of-
Payments Provisions of the General Agreement on Tariffs Article 2.1: Definitions
and Trade 1994 in Annex 1A to the WTO Agreement;
For the purposes of this Chapter:
(hh) WTO means the World Trade Organization; and
(a) consular transactions means any requirements that
(ii) WTO Agreement means the Marrakesh Agreement goods of a Party intended for export to the territory of
Establishing the World Trade Organization done at another Party must first be submitted to the supervision of
Marrakesh on 15 April 1994. the consul of the importing Party in the territory of the
exporting Party for the purpose of obtaining consular
invoices or consular visas for commercial invoices,
Article 1.3: Objectives certificates of origin, manifests, shippers’ export
declarations, or any other customs documentation required
The objectives of this Agreement are to: on or in connection with importation;

(a) establish a modern, comprehensive, high-quality, and (b) customs duties means any customs or import duty and a
mutually beneficial economic partnership framework to charge of any kind imposed in connection with the
facilitate the expansion of regional trade and investment importation of a good, but does not include any:
and contribute to global economic growth and
development, taking into account the stage of development (i) charge equivalent to an internal tax imposed
and economic needs of the Parties especially of Least consistently with paragraph 2 of Article III of GATT
Developed Country Parties; 1994;

(b) progressively liberalise and facilitate trade in goods among (ii) anti-dumping or countervailing duty applied
the Parties through, inter alia, progressive elimination of consistently with Article VI of GATT 1994, the AD
tariff and non-tariff barriers on substantially all trade in Agreement, and the SCM Agreement; or
goods among the Parties;
(iii) fees or other charges commensurate with the cost
(c) progressively liberalise trade in services among the Parties of services rendered;
with substantial sectoral coverage to achieve substantial
elimination of restrictions and discriminatory measures with (c) customs value of goods means the value of goods for the
respect to trade in services among the Parties; and purposes of levying ad valorem customs duties on
imported goods;
(d) create a liberal, facilitative, and competitive investment
environment in the region, that will enhance investment (d) duty-free means free of customs duty;
opportunities and the promotion, protection, facilitation,
and liberalisation of investment among the Parties. (e) import licensing procedure means an administrative
procedure requiring the submission of an application or

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