common effective preferential tariff

Definitions

Economics

  • The CEPT tariff is the tariff that a member of the ASEAN Free Trade Area applies to imports that originate in another AFTA country. Unlike conventional free trade areas, the CEPT tariff is not required to be zero, but only between zero and 5%. In addition, countries are permitted to designate products as excluded from the CEPT for several reasons.
  • acronymCEPT
    (written as Common effective preferential tariff)
  • common effective preferential tariff
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