![\"RCEP](\"https:\/\/dev.epictranslations.com\/wp-content\/uploads\/2020\/11\/RCEP-Trade-Pact-EPIC-Translations.jpg\")
RCEP is actually very helpful in one regard: it sets up a common \u201cRule of Origin\u201d.\u00a0 The Rule of Origin should help companies with supply chains that cross national borders.\u00a0 For instance, a company might ship parts from America to an assembly plant in South Korea for export to Thailand and the Philippines.\u00a0 Thailand and the Philippines might have different rules to determine what the country of origin is: Thailand might say the finished product is South Korean, while the Philippine government might say the products are American \u2013 and that in turn would affect what tariffs apply.\u00a0 With a common Rule of Origin, it will be easier to certify where the products originate \u2013 one Certificate of Origin will work in all countries \u2013 simplifying paperwork.<\/p>\n
The Rule of Origin focuses on location, not ownership.\u00a0 If you have a plant in any RCEP country the goods produced at that plant will likely be considered to have originate there, and get the benefit of lower tariffs.<\/p>\n
Exporters of goods may face new competitors based in China, South Korea, or Japan, who will have tariffs lowered, but the opening of trade should boost economic growth throughout the region, creating more opportunities for all.<\/p>\n
RCEP will create new opportunities for trade in Asia.\u00a0 But to take full advantage you\u2019ll need documents translated and meetings interpreted, especially in Chinese and Japanese.\u00a0 EPIC Translations has highly skilled and experienced translators<\/a>, who can help you make the best possible impression with customers and partners.\u00a0 RCEP is going to create new opportunities.\u00a0 EPIC Translations<\/a> can help in making sure your translated documents can successfully navigate a changing and growing region.<\/p>\n The Regional Comprehensive Economic Partnership consists of 15 nations.\u00a0 This includes all ten members of the Association of Southeast Asian Nations (ASEAN) plus 5 others:<\/p>\n Fifteen nations in Southeast Asia announced the creation of a new free-trade pact, the Regional Comprehensive Economic Partnership (RCEP). The news caused a stir among business and trade experts in America.<\/p>\n","protected":false},"author":10,"featured_media":7465,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[71],"tags":[],"blocksy_meta":"","yoast_head":"\n\n