Page 9 - Regional Comprehensive Economic Partnership (RCEP)

RECOGNISING that good governance and a predictable, transparent, CHAPTER 1
and consistent business environment will lead to the improvement of
economic efficiency and the development of trade and investment; INITIAL PROVISIONS AND GENERAL DEFINITIONS

REAFFIRMING the right of each Party to regulate in pursuit of legitimate
public welfare objectives; Article 1.1: Establishment of the Regional Comprehensive
Economic Partnership as a Free Trade Area
RECOGNISING that the three pillars of sustainable development are
interdependent and mutually reinforcing, and that economic partnership The Parties, consistent with Article XXIV of GATT 1994 and Article V of
can play an important role in promoting sustainable development; and GATS, hereby establish the Regional Comprehensive Economic
Partnership as a free trade area in accordance with the provisions of this
FURTHER RECOGNISING the positive effect that regional trade Agreement.
agreements and arrangements can have in accelerating regional and
global trade and investment liberalisation, and their role in strengthening
the open, free, and rules-based multilateral trading system, Article 1.2: General Definitions

HAVE AGREED AS FOLLOWS: For the purposes of this Agreement, unless otherwise provided in this
Agreement:

(a) AD Agreement means the Agreement on Implementation
of Article VI of the General Agreement on Tariffs and Trade
1994 in Annex 1A to the WTO Agreement;

(b) Agreement means the Regional Comprehensive
Economic Partnership Agreement;

(c) Agreement on Agriculture means the Agreement on
Agriculture in Annex 1A to the WTO Agreement;

(d) Customs Valuation Agreement means the Agreement on
Implementation of Article VII of the General Agreement on
Tariffs and Trade 1994 in Annex 1A to the WTO
Agreement;

(e) days means calendar days, including weekends and
holidays;

(f) existing means in effect on the date of entry into force of
this Agreement;

(g) GATS means the General Agreement on Trade in Services
in Annex 1B to the WTO Agreement;

(h) GATT 1994 means the General Agreement on Tariffs and
Trade 1994 in Annex 1A to the WTO Agreement;

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