Sunday, March 3, 2024

Asean rolls out online-based tariff search engine for regional firms

Southeast Asian nations have launched an online-based tariff search facility designed to help businesses, especially micro, small and medium enterprises (MSMEs), to maximize benefits from Asean’s free trade agreements (FTAs).

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This, as Asean has continued to progress its FTAs with several major trading partners to further enhance MSMEs’ participation in both regional and global value chains and production networks.

The Asean Tariff Finder provides up-to-date information on the preferential tariffs applied by Asean Member States under Asean Trade in Goods Agreement (ATIGA) or by Asean Member States and their trading partners under various Asean+1 FTAs.

It also sets out the rules of origin criteria used to determine a product’s eligibility for preferential tariff treatment.

With this search engine, traders will save time and resources in their transactions since all tariff information they need are now readily available at the website.

Developed under the Asean-ROK (Republic of Korea) Special Cooperation Fund, the Asean Tariff Finder responds to the challenge facing the MSMEs in seizing opportunities from new markets following the conclusion of Asean+ FTAs.

The tariff search facility also ensures that MSMEs benefit from the progress of regional integration agenda.

The Asean Economic Community (AEC) Blueprint 2025 highlights the role of MSMEs as the backbone of the Asean economies. — PIA


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