Is the 'CEPT Base Rate' in the Products and Tariff Reduction Programmes under the Common Effective Preferential Tariff Scheme (CEPT) (or Product List) the MFN rate?
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From:
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Yes. However, there are certain qualifications to this. First, for some
PTA products in CEPT Scheme, the base rate is the MFN rate after
accounting for the margin of preference (MOP). Second, countries may
have effected MFN reductions after the publication of the Product List.
Therefore, the base rate may not be reflective of the latest MFN rates
of Member Countries. In any case, traders are allowed to choose the
lowest rate applicable.
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