Dotting the i's: Cepa II's Legal Text and Annexes Signed

October 31, 2004 | BY

clpstaff &clp articles

The framework for the second round of the Mainland-Hong Kong Closer Economic Partnership Arrangement was concluded in August. Now, the two sides have signed the "Legal Text", which has three annexes.

By Claudio de Bedin, Partner, and Susan Lavender, Associate, Dibb Lupton Alsop, Hong Kong

Last month we discussed the framework agreement reached between the PRC and Hong Kong governments (the Sides) on August 27 2004 (hereafter CEPA II 27/8/04). The agreement further extended the ambit of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA).

As was the case with execution of the original CEPA agreement (CEPA I), the signing process for the second phase of CEPA (CEPA II) has been conducted in stages. CEPA I's main agreement was signed on June 29 2003, while its revised annexes were signed on September 29 2004. In similar fashion, the annexes attached to CEPA II 27/8/04 were not signed on August 27 2004. Moreover, at that time, the Sides were still continuing their consultations on the relevant rules of origin required to be complied with by the new CEPA II list of product categories scheduled to become eligible for zero tariff upon importation to the Mainland from Hong Kong.

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