Trans-Pacific Strategic Economic Partnership (TPSEP)

Country / jurisdiction: New Zealand · Year: 2006 · Status: In force · Level: International · Type: Voluntary

The Trans-Pacific Strategic Economic Partnership (TPSEP) entered into force for New Zealand and Singapore in May 2006, for Chile in November 2006 and eventually for Brunei Darussalam in July 2009.

It provides for the reduction or elimination of border tariffs for most industrial products across HS sectors 25 through 97 including for:

Electric motors, turbines and generators;

Mechanical equipment including pumps, appliances, and other advanced machinery;

Electric accumulators, transformers, capacitors, batteries;

Motor vehicles;

Mineral ore, slag and ash;

Mineral fuels, oils and other products;

Metals and their articles e.g. iron and steel;

Semiconductors devices and photovoltaic cells;

Rule of origins apply, by which good can benefit for the preferential tariff treatment if they are wholly obtained or produced in one of the signatory countries or if :

- the total value of non-originating materials used does not exceed 55 %of the customs value of the final good (notably for iron and steel articles and selected machinery)

- the materials have undergone processes of production or operation going beyond the minimal processes or operations in in one of the signatory countries

- the producer of the exported material is the same producer of the final good

- the last process of manufacture of the good was performed in one of the signatory countries

Official source: https://www.enterprisesg.gov.sg/grow-your-business/go-global/international-agreements/free-trade-agreements/find-an-fta/Trans-Pacific-Partnership-TPSEP