Greetings from Chemexcil!
Chemexcil is in receipt of communication from the Department of Commerce regarding the ongoing review of the India-South Korea Comprehensive Economic Partnership Agreement (CEPA), specifically focusing on the Rules of Origin (RoO) chapter.
As you may be aware that there are issues related to Rules of origin (RoO) under the existing provisions of the FTA with South Korea, South Korea has graciously agreed to India's request for a thorough CEPA review, especially focusing on RoO and the General Rules on the products of India’s export interest.
South Korea has proposed a review of PSR’s for the attached 48 products falling under Chemexcil’s purview. An excel sheet with Product Specific Rules at the 6-digit level has been enclosed herewith including relevant trade data pertaining to India and South Korea.
PSR ensures that a product meets Rules of Origin requirements. This is achieved through one of the four most common rules under the agreement which are as under :-
• Wholly Obtained, (WO)
• Change in Tariff Heading, (CTH)
• Chapter Change (CC)
• Regional Value Content (RVC)
• Special Processing Rule
• Change in Tariff Sub-Head (CTSH)
Concerned members are requested to share their inputs product wise on the RoO text, existing Product Specific Rules (PSRs), and General Rules for products with justification of export interest to South Korea latest by 7th December,2023. Any further changes in the PSRs may also be considered for inclusion.
Therefore, Members are requested to share the feedback to firstname.lastname@example.org with copy to email@example.com on or before 7th December 2023 for onward communication. In case of any delay or no response, it will be considered as NO OBJECTION with the existing RoO provisions under the India-South Korea CEPA.
Do not hesitate to call Ms. Parul Gupta - Assistant Director on +91 8383945595 if you need any clarification on above
Thanks and regards
Encl : Draft PSR proposal for India-Korea CEPA review