MT News
According to the Regional Comprehensive Economic Partnership (RCEP), the customs tax exemption CO Form RCEP for Myanmar origin products, which will be exported to China, will be issued as of 1 November, the Department of Trade announced.
The Regional Comprehensive Economic Partnership (RCEP) agreement, participated by ten members of states of ASEAN as well as Australia, China, South Korea, Japan and New Zealand, came into effect as of 1 January, 2022.
According to the RCEP agreement, Myanmar will issue the customs tax exemption CO Form RCEP for Myanmar origin products, which will be exported to China, at concerned import and export offices and trade camps under the Department of Trade, the Ministry of Commerce as of 1November. Myanmar importers can apply for the CO Form RCEP in accordance with the procedures.
In addition, the importers who wish to become approved exporter can apply via Online CO Application System https://onlireco.yarmartradenet.com as of 1 November.
The RCEP participated by Myanmar accounts for 30 percent of the world’s population, 29 percent of global GDP, 27 percent of global trade and 29 percent of global foreign direct investment, making it the largest trade deal.
The Regional Comprehensive Economic Partnership (RCEP) is a free trade agreement between ASEAN member states as well as Australia, China, Japan, South Korea and New Zealand.
