1. What it covers
The ASEAN members, Japan, Korea, Australia and New Zealand.
2. The two route choices
Japan
No bilateral agreement. RCEP is the only preferential route.
Korea, Australia, New Zealand
Bilateral agreement plus RCEP.
ASEAN
The bilateral agreement, with the Form E, plus RCEP.
3. The rate comparison
For each market:
The current rate under each available agreement.
Whether the good qualifies under each.
Which is lower.
4. The origin comparison
The cumulation difference is decisive for products with regional inputs.
5. The documentation
Three different certificates, and the exporter holds one per shipment.
6. The scenario
An exporter used the Form E for all ASEAN shipments by habit.
For Vietnam, the RCEP rate had become lower for one product line, and the goods also qualified under RCEP.
7. The review
Annual, per product, per market.
8. Closing view
The Asia-Pacific network is the most developed part of China’s agreement coverage.
It is also where the choice is most consequential.
*This article is based on RCEP, the China-ASEAN Trade in Goods Agreement and China’s bilateral agreements with Korea, Australia and New Zealand.*