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Circular No. 05/2022/TT-BCT on Rules of Origin of the RCEP

23/02/2022    903

Date: February 18, 2022

By: The Ministry of Industry and Trade

The Regional Comprehensive Economic Partnership (RCEP) is a free trade agreement signed by the 10 member countries of the Association of Southeast Asian Nations (ASEAN) and the 5 partner countries namely Japan, Korea, China, Australia and New Zealand on November 15, 2020. The RCEP Agreement came into force on January 1, 2022.

To implement international commitments in the RCEP, on February 18, 2022, the Minister of Industry and Trade signed and promulgated Circular No. 05/2022/TT-BCT on Rules of Origin of the RCEP. Circular No. 05/2022/TT-BCT includes 04 Chapters, 32 Articles and 4 Appendixes attached:

- Chapter 1: General provisions

- Chapter 2: Rules to determine origin of goods

- Chapter 3: Certification and inspection of origin of goods

- Chapter 4: Implementing provisions

Circular No. 05/2022/TT-BCT stipulates the Rules of Origin, including cases of Originating Goods, Cumulation, De Minimis, Minimal Operations and Processes, Direct Consignment, Operational certification procedures... The content of these provisions on Rules of Origin in the RCEP is generally indifferent from that in ATIGA and a number of FTA ASEAN+1.

Originating goods of Vietnam exported to member countries are considered for preferential tariff under the RCEP Agreement when a C/O is issued in accordance with the provisions of this Circular. Originating goods imported into Vietnam from member countries shall be considered for preferential tariff under the RCEP Agreement upon submission of C/O or self-certification of origin of goods issued by the approved exporter.

Also in Circular No. 05/2022/TT-BCT, the Ministry of Industry and Trade internalized the provisions on tax differences because some countries in the RCEP such as China, Korea, Japan, and Indonesia, Philippines, Thailand and Vietnam apply different import tariff rates for the same product from the partner countries.

Circular No. 05/2022/TT-BCT will takes effect from April 4, 2022.

The Circular (in Vietnamese) is attached below: