India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA)

Country / jurisdiction: Malaysia · Year: 2011 · Status: In force · Level: International · Type: Voluntary

The India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA) came into force on July 1, 2011. Under the IMCECA, tariff concessions have been offered in the forms of, both, tariff reductions and eliminations, including but not limited to:

Agglomerated and reduced iron;

Alumina;

Scrap metal and ammonia;

Crude steel and aluminium;

Polysilicon;

Battery packs;

Heat pumps;

Rules of origin dictate that “minerals and other naturally occurring substances” are considered wholly obtained or produced in India or Malaysia and thus benefit from preferential tariff treatment. All other goods not wholly obtained or produced benefit from preferential tariff treatment provided:

Non-originating materials used in the production of the good have undergone a tariff reclassification under the relevant HS code

The qualifying value content of the good does not exceed more than 35% of the FOB value

Official source: https://commerce.gov.in/wp-content/uploads/2022/11/title-1-1.pdf