MACAU – An agreement was signed yesterday between the Chinese mainland and Macau on trade in goods under the framework of the Closer Economic Partnership Arrangement (CEPA), symbolizing the completion of comprehensively upgrading the CEPA.
The agreement was signed by Vice Commerce Minister Fu Ziying and Secretary for Economy and Finance Lionel Leong Vai Tac at Macau Government Headquarters.
The signing of the agreement will promote the integration of Macau into the national development, and help Macau’s business sectors explore the mainland Chinese market, Leong told reporters after the signing of the agreement.
The agreement includes the general rules uniformly applicable to all products of the tariff code and the specific rules of origin for certain products, and defines origin criteria for more than 8,000 tariff code products.
In addition, it also includes a chapter on trade facilitation measures in the Guangdong-Hong Kong-Macau Greater Bay Area (GBA).
The agreement comes into effect on January 1.
