Cepa Trade Agreement

The EPA is a win-win agreement that opens up new business opportunities for the mainland, Hong Kong and all foreign investors. For Hong Kong, THE EPA offers Hong Kong businesses the opportunity to have better access to the mainland. The EPA also benefits the continent, as Hong Kong serves as the perfect „springboard“ for continental companies to reach the global market and accelerate the continent`s full integration into the global economy. Foreign investors are also welcome to set up businesses in Hong Kong to take advantage of the benefits of the EPA and jointly seize the great opportunities offered by the continental market. Unlike the EU, which has in the past refused to engage in discussions on audiovisual services for cultural reasons, Japan and the United Kingdom have agreed to launch cooperation in the field of audiovisual services under the agreement. This is a change for the UK creative sector, which has generally been less involved in trade discussions. The agreement between Japan and the United Kingdom also aims to strengthen the annex to regulatory cooperation, including the creation of an ongoing regulatory cooperation forum between HM Treasury, the Bank of England, the Financial Conduct Authority and the Financial Services Agency of Japan. Like its predecessor, the EPA between Japan and Great Britain contains no provision to settle disputes between investors and states. However, both parties have introduced a review clause for the Multilateral Investment Tribunal, which would trigger a review process as part of the Japan-UK agreement to assess its impact on the provisions of the agreement. Two-way services trade was estimated at $6.2 billion in 2018/2019. Education-related travel dominates Australian services exports to Indonesia.

Under the EPA, the importing party can set the validity of the original declaration for more than 12 months than the 12 months stipulated in the EU-Japan agreement. The new measures provide that a request for information may be made at the time of a review, either until the end of two years after importation or until the end of 38 months from the date of the establishment of the original declaration, with the most advanced date being chosen. The minimum duration of the company`s activities in Hong Kong is three years, but the requirement is five years for construction and real estate, banking and insurance. Although the specific quality requirements for a company vary from sector to sector, evaluation will be conducted on a non-discriminatory and objective basis.

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