Study on China-Sri Lanka Free Trade Agreement

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Table 3.1: Features of the China-ASEAN Free Trade Agreement Parties Date of Signature Date of Entry into Force Full Implementation Transition for full implementation Members of ASEAN (Brunei, Myanmar, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Viet Nam) and China 29 November 2004 (Goods) 14 January 2007 (Services) 1 January 2005 (Good) 1 July 2007 (Services) 2015 for ASEAN 6 countries and 2018 for Cambodia, Myanmar, Laos, Viet Nam • Tariff reduction and elimination for tariff lines categorized in either the Normal Track or the Sensitive Track: • Parties committed to reduce and eliminate their tariffs for goods listed under the Normal Track 1 from 2005-2010 and Normal Track 2 (not exceeding 150 tariff lines) from 2010-2012 as part of flexibility provided. • Sensitive Track consists of the Sensitive List and the Highly Sensitive List. The timeframe for Sensitive List (400 tariff lines) requires tariffs to be reduced to 20% in 2012 and subsequently reduced to 0-5% in 2018. Those in the Highly Sensitive List (100 tariff lines), tariffs will be reduced to not more than 50% by 2015 for ASEAN-6 and China and 2018 for the newer ASEAN members. The list of China’s highly sensitive products include some agricultural products, wood products, paper products, etc. Negative List • There are no product exclusions. Rules of Origin (ROO) Requirements • Products must be wholly obtained or produced in ASEAN countries. • Local Value Addition - 40% of total content. • Regional Value Content (RVC) criterion or value of the non-originating parts or components used in the manufacture of the products must be no more than 60% of the FOB value of the product. • The country of origin is defined as the country where the last processing operation takes place. • 565 products traded between the parties are subject to Product Specific Rules, mainly textiles. • Goods must meet the direct transport rule. Other Provisions • Anti - Dumping: Article 7: As per WTO/GATT • Countervailing Duties: Article 7: As per WTO/GATT • Safeguards: Article 9: As per WTO/GATT, allows transitional SG for first 5 years. Article 11: BOP, as per WTO/GATT • Standards : Article 7: SPS, TBT, as per WTO/GATT • Intellectual Property: Article 7: As per WTO • Dispute Settlement: Article 21: The Agreement on Dispute Settlement Mechanism • Institutional mechanism: Article 16 • Trade regulations publication and administration (transparency): Article 4: As per GATTS Relevant websites • http://www.mofcom.gov.cn/ • http://www.aseansec.org/ Sources: http://rtais.wto.org/UI/PublicShowMemberRTAIDCard.aspx?rtaid=8 http://artnet.unescap.org/APTIAD/viewagreement.aspx?id=CHINA-ASEAN Rules of Origin: Page 28 of 88
Product specific rules pertaining to agriculture products require a change in HS Chapters 1 through 22 and a change in HS heading for Chapters 17 through 19 while a minimum 50 per cent RVC of the FOB value of the product is required from the remaining products. The value of the non-originating parts or components used in the manufacture of the products must be no more than 60 per cent of the FOB value of the product. The country of origin is defined as the country where the last manufacturing operation takes place, or in accordance with product-specific rules. 565 products traded between the parties are subject to Product Specific Rules, mainly textiles. Requirements on direct consignment must be complied with. Other Provisions: In order to address the concerns of the domestic industries of both China and ASEAN countries regarding issues related to a possible acceleration in imports, the Agreement has included the conditions applicable to the use of bilateral safeguard measures. The Agreement specifies that a Party may impose a bilateral safeguard measure on a product benefiting from preferential tariff treatment under the Agreement if there is an increase in imports in absolute terms or relative to domestic production, which constitutes a substantial cause of serious injury or threat thereof to the domestic industry of the importing Party producing a like or directly competitive good. 93 Disciplines regarding the application of such measures include an investigation by the Party's competent authorities prior to its application. In addition to safeguard measures, anti-dumping, countervailing duties, SPS and TBT measures, intellectual property, dispute settlement, trade regulations publication and administration (transparency) and institutional mechanism are also covered in the Agreement. 93 "Serious injury" is defined in Article 50 of the Agreement as "a significant overall impairment in the position of a domestic industry". Page 29 of 88
Page 1 and 2: Study on China-Sri
Page 3 and 4: IPS Team of Researchers Janaka Wija
Page 5 and 6: • Tariff-rate Quotas: Although ta
Page 7 and 8: 1. Background to the study While hi
Page 9 and 10: efore the agreement is finalized, w
Page 11 and 12: 2.1 Introduction While Sri Lanka ha
Page 13 and 14: Rules of Origin: The rules of origi
Page 15 and 16: vegetable fats and oils, refined co
Page 17 and 18: margin to 889 products from India i
Page 19 and 20: 2.3 Pakistan-Sri Lanka Free Trade A
Page 21 and 22: Sri Lanka has been involved in both
Page 23 and 24: Trade facilitation issues: Further,
Page 25 and 26: 3.1 Introduction China has emerged
Page 27: 3.2 China-ASEAN Free Trade Agreemen
Page 31 and 32: verification networking system on c
Page 33 and 34: Table 3.4: China’s Tariff elimina
Page 35 and 36: Rules of Origin (ROO) are a critica
Page 37 and 38: Parties China , New Zealand Date of
Page 39 and 40: Table 3.9: China’s Tariff elimina
Page 41 and 42: One of the quantitative restriction
Page 43 and 44: 3.5 China-Singapore Free Trade Agre
Page 45 and 46: exportation of any good destined fo
Page 47 and 48: with the following: elimination of
Page 49 and 50: under the Agreement, corresponding
Page 51 and 52: Table 3.17: China’s Tariff Elimin
Page 53 and 54: 3.7 China-Peru Free Trade Agreement
Page 55 and 56: Liberalization of Tariff Lines: Bot
Page 57 and 58: articles. In 2026, the overall aver
Page 59 and 60: 3.8 China-Costa Rica Free Trade Agr
Page 61 and 62: Both the countries have gradually e
Page 63 and 64: China maintains a negative list wit
Page 65 and 66: 3.9 China-Switzerland Free Trade Ag
Page 67 and 68: 3.11 Conclusion China’s shift in
Page 69 and 70: HS section and description Table 3.
Page 71 and 72: 2013. 170 China is now demonstratin
Page 73 and 74: 4.1 Introduction Over the past 55 y
Page 75 and 76: Using World Bank’s WITS database
Page 77 and 78: 39 4 391231, 391239, 392321, 392620
Page 79 and 80:
4.4 Identification of Potential Exp
Page 81 and 82:
Table 4.7: Summary Analysis of Chin
Page 83 and 84:
Table 4.8: Tariffs for Top 10 Curre
Page 85 and 86:
Table 4.9: Tariffs for Top 10 Indic
Page 87 and 88:
5. Conclusion to the study Section
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