What Is Cepa Agreement

The agreement „ensures more flexibility“ for Japanese and UK companies to attract talent to each country and covers a range of UK professionals entering Japan, from IT services to construction. This includes a commitment that visa requirements are „clear, transparent and with the goal that they are processed within 90 days.“ Japan has broadened the scope of the ICT category, and the definitions of investors have been changed to focus on investment as an activity rather than the amount of capital invested. Transfers from Japan to the UK are already subject to internal transfer rules, which will be improved in January as part of the 2021 UK immigration system. The UK`s youth mobility programme is already expanding to Japan. Under CEPA, the importing Party may determine the validity of the origin declaration for more than 12 months under the EU-Japan Agreement. The new measures provide that a request for information may be made in a review either until the end of two years after importation or until the end of 38 months after the date on which the origin declaration was made, whichever is the earlier. CePA is a free trade agreement under which qualified products, businesses and Hong Kong residents have preferential access to mainland China. Many of the preferences go beyond the concessions made by China when it joined the World Trade Organization. In this regard, a significant shortcoming of the Japan-UK Free Trade Agreement is that it does not include a comprehensive investment chapter that includes investment protection and dispute settlement such as the CPTPP. This is mainly due to the fact that the UK has yet to develop a comprehensive investment strategy. It is not clear what kind of policy framework for foreign direct investment (FDI) the UK would like to shape after Brexit and what role free trade agreements could play in achieving investment-related policy objectives. Trade in services – Hong Kong`s service suppliers receive preferential treatment when entering the continental market in various services sectors. Hong Kong`s professional associations and mainland regulators have also signed a number of agreements or arrangements on the mutual recognition of professional qualifications.

The Mainland and Hong Kong Closer Economic Partnership Arrangement, or CEPA for short, is a partnership that has 29 May 29. Economic Agreement between the Government of the Hong Kong Special Administrative Region and the Central People`s Government of the People`s Republic of China signed in June 2003. [1] A similar agreement, known as the Closer Economic Partnership Agreement between the mainland and Macao, was signed on 18 October 2003 between the Government of the Macao Special Administrative Region and the Central People`s Government. CEPA, the bilateral free trade agreement between Hong Kong and mainland China, entered into force on 1 January 2004. The agreement provides rapid market access for local and international companies with qualified companies based in Hong Kong, regardless of their nationality or size. Even after China fulfills its commitments to the World Trade Organization (WTO), many Hong Kong companies will retain a lasting advantage, as CEPA offers even larger concessions that go beyond China`s obligations when it joins the WTO. The Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) is the first free trade agreement ever concluded by mainland China and Hong Kong. .