What is CEPT ?

Common Effective Preferential Tariff (CEPT) is cooperative arrangement among ASEAN Member States to reduce intra-regional tariffs and remove non-tariff barriers over a 10 year period commencing 1 January 1993. Objective of the Scheme is to reduce tariffs on all manufactured goods to 0-5% by the year 2003 for the original six member states, Malaysia, Singapore, Brunei, Thailand, Philippines and Indonesia.
The new members of ASEAN, namely Vietnam, Lao PDR, Myanmar and Cambodia have been given the same 10 year flexibility to reduce tariffs from the time of their membership of ASEAN;

• Vietnam will reduce tariffs to 0-5% by 2006
  
• Laos PDR and Myanmar by 2008
  
• Cambodia by 2010
  

In 2003 for the original six member states, a total of 98.8% of tariff lines are already in the inclusion list for tariff reduction, out of which 99.55%have now duties between 0-5%.