{"id":2856,"date":"2024-03-28T09:10:41","date_gmt":"2024-03-28T02:10:41","guid":{"rendered":"https:\/\/ktgindustrial.com\/?post_type=new&p=2856"},"modified":"2024-05-10T09:33:23","modified_gmt":"2024-05-10T02:33:23","slug":"amend-the-rules-of-origin-in-akfta-agreement","status":"publish","type":"new","link":"https:\/\/ktgindustrial.com\/new\/amend-the-rules-of-origin-in-akfta-agreement\/","title":{"rendered":"AMEND THE RULES OF ORIGIN IN AKFTA AGREEMENT"},"content":{"rendered":"
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On March 27, 2024, the Ministry of Industry and Trade No. 04\/2024\/TT-BCT on amending and supplementing several Articles of the Circular No. 20\/2014\/TT-BCT dated June 25, 2014, of the Minister of Industry and Trade on the implementation of rules of origin in the Agreement establishing Asean \u2013 Korea free trade area (AKFTA). Circular No. 04\/2024\/TT-BCT on amending and supplementing Article 4, Appendix I on (Rules of Origin) enclosed with the Circular No. 20\/2014\/TT-BCT.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n

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For the purposes of Point b Clause 1 Article 2, a good, except those covered under Article 5 as provided for in this Appendix, shall be deemed to be originating if the regional value content (herein after referred to as the \u201cRVC\u201d) is not less than 40% of the FOB value or if a good has undergone a change in tariff classification at 4 (four) digit-level (change of tariff heading) of the Harmonized System.<\/p>\n

RVC shall be calculated adopting one of the following two formulas:<\/p>\n