CEPT
CEPT: Common Effective Preferential Tariff. The mechanism established under AFTA for achieving the goal of reducing tariffs applicable to trade between the six original ASEAN members (Brunei Darussalam, Indonesia, Malaysia, Philippines, Singapore and Thailand) to between zero and 5%. Products traded in this way are entered into the Inclusion List. See also ASEAN Integration System of Preferences, Senstive List and Temporary Exclusion List.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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