annual revenue and total assets of the entity over the most recent three- year period for which information is available;
information regarding the laws and regulations relating to the Party’s
state-owned enterprises and state trading enterprises; and
any exemptions and immunities from which the entity benefits under the
Party’s laws and regulations.
The responding Party shall endeavour to provide the requested information in writing no later than 90 days after the receipt of the request. If any requested information cannot be provided, the responding Party shall explain the absence of that information in its written response.
The Parties may engage in mutually agreed technical cooperation activities, including:
exchanging information regarding the Parties’ experiences in improving the corporate governance and operation of their state-owned enterprises and state trading enterprises;
cooperating on projects and programmes aimed at promoting the development and adoption of low-carbon, environmentally friendly and other climate-friendly technologies by their state-owned enterprises and state trading enterprises;
sharing best practices on policy approaches to ensure a level playing field between state-owned enterprises, state trading enterprises and privately-owned juridical persons, including policies related to competitive neutrality; and
organising international seminars, workshops, or any other appropriate forum for sharing technical information and expertise related to the governance and operations of state-owned enterprises and state trading enterprises.
Any information provided under this Chapter shall be subject to Article 28.6 (Confidentiality – General Provisions and Exceptions).
Non-Application of Dispute Resolution
Neither Party shall have recourse to dispute settlement under Chapter 29 (Dispute Settlement) for any matter arising under this Chapter.
Article Article 18.1 Definitions
For the purposes of this Chapter:
“specific subsidy” means a subsidy which is determined mutatis mutandis to be specific in accordance with Article 2 of the SCM Agreement; and
“subsidy” means a measure which fulfils mutatis mutandis the conditions set out in Article 1.1 of the SCM Agreement.
The Parties recognise that subsidies may be granted to achieve public policy objectives such as correcting certain market failures, addressing social difficulties, and administering development programmes. The Parties acknowledge, however, that certain subsidies have the potential to distort the proper functioning of markets and undermine the benefits of trade liberalisation under this Agreement. Therefore, to help promote a level playing field and foster a favourable trade environment, the Parties recognise the importance of considering whether subsidies granted have an adverse effect on trade.
Nothing in this Chapter shall prevent a Party from granting a subsidy temporarily to respond to a national or global economic emergency.1 Such subsidies shall be transparent and shall not go beyond their objective.
This Chapter shall only apply to a subsidy if it is a specific subsidy related to trade in goods.
Nothing in this Chapter shall apply to a subsidy for which the total amount granted or budgeted for over a period of two consecutive years is below 18 million Special Drawing Rights.
1 For greater certainty, an economic emergency shall be understood as one that affects the whole economy of a Party.
This Chapter shall not apply to subsidies related to the agricultural, fisheries, or aquaculture sectors.2
The Parties reaffirm their commitment to abide by the SCM Agreement and Article XVI of GATT 1994.
The Parties shall consult each other following the development of additional subsidies disciplines at the WTO, consistent with Article 18.3 (Scope), with a view to their incorporation into this Chapter.
Each Party shall endeavour to ensure that subsidies are used only for the specific purpose for which the subsidies were granted.
Each Party shall ensure transparency in the area of subsidies. To that end, each Party shall notify the other Party of the following with respect to any subsidy granted or maintained within its territory:
background and authority for the subsidy including, where possible, the identification of the legal instrument under which it is granted;
the form of the subsidy; and
the amount of the subsidy or the amount budgeted for the subsidy.
The requirement imposed by paragraph 1 must be satisfied every two years.
If a Party makes publicly available on an official website the information specified in paragraph 1, the notification pursuant to paragraph 1 shall be deemed to have been made.
2 For clarity, subsidies related to the agricultural, fisheries and aquaculture sectors shall include:
agricultural goods, including those covered by Annex 1 to the WTO Agreement on Agriculture;
fisheries goods, including those produced by fishing activities covered by the WTO Agreement on Fisheries Subsidies; and
aquaculture products.
If a Party notifies a subsidy pursuant to Article 25.2 of the SCM Agreement, the Party shall be considered to have met the requirement of paragraph 1 with respect to that subsidy.
Notification of a subsidy under this Article shall be without prejudice to its legal status.
In the event a Party considers that a subsidy granted by the other Party has an adverse effect3 on its trade interests under this Agreement, it may submit a written request for consultation. The Parties shall enter into consultations with a view to resolving the matter, provided that the request includes an explanation of how the subsidy has an adverse effect on trade between the Parties.
During the consultations, a Party may seek additional information on a subsidy provided by the responding Party, such as:
the policy objective or purpose of the subsidy;
the background and authority for the subsidy (including, where possible, identification of the legal instrument under which the subsidy is granted);
the form of the subsidy such as a grant, loan, guarantee, repayable advance, equity injection or tax concession;
the dates and duration of the subsidy and any other time limits attached to it;
the eligibility requirements of the subsidy;
the total amount or the annual amount budgeted for the subsidy;
the statistical data permitting an assessment of the effects of the subsidy on trade; and
where possible, the name of the recipient of the subsidy.
The responding Party shall endeavour to provide the requested information in writing as quickly as possible and in a comprehensive manner, after the receipt of the request. If any requested information cannot be provided, the responding Party shall explain the absence of that information in its written response.
If the requesting Party, after the consultations, still considers that the subsidy has an adverse effect on its trade interests under this Agreement, the responding
3 For the purpose of this Article, ‘adverse effect’ shall have the same meaning as in Articles 5 and 6 of the SCM Agreement.
Party shall accord sympathetic consideration to the concerns of the requesting Party.
The Parties recognise the importance of cooperating in the area of subsidies. The Parties share the objective of working jointly, where appropriate and subject to available resources, in order to:
explore ways to improve transparency regarding subsidies;
explore opportunities to collaborate in addressing market-distorting subsidies; and
bilaterally exchange information on the functioning of their respective subsidy systems.
Any information provided under this chapter shall be subject to Article 28.6 (Confidentiality – General Provisions and Exceptions).
Non-Application of Dispute Settlement
Neither Party shall have recourse to dispute settlement under Chapter 29 (Dispute Settlement) for any matter arising under this Chapter.
Chapter CHAPTER 19
SMALL AND MEDIUM-SIZED ENTERPRISES
Article Article 19.1 General Provisions
The Parties recognise the importance of:
SMEs in their bilateral trade and investment relations; and
provisions in this Agreement that are of particular benefit to SMEs.
The Parties affirm their commitment to promoting an environment that:
facilitates and supports the development, growth, and competitiveness of SMEs;
promotes job creation in SMEs; and
enhances SMEs’ ability to benefit from this Agreement.
Where appropriate, the Parties recognise the importance of initiatives, efforts, and work on SMEs developed in relevant international fora, and in taking into account their findings and recommendations.
The Parties also recognise the relevance of:
working cooperatively to identify and address barriers to SMEs’ access to international markets;
considering the needs of SMEs when formulating new laws and regulations; and
assessing the effect of globalisation on SMEs and, in particular, examining issues related to SMEs’ access to financing, technology, and support for innovation.
Each Party shall establish or maintain its own free, publicly-accessible website containing information regarding this Agreement, including:
the full text of this Agreement;
a summary of this Agreement; and
information designed for SMEs that contains:
a description of the provisions in this Agreement that the Party considers to be relevant to SMEs; and
any additional information that the Party considers useful for SMEs interested in benefitting from the opportunities provided by this Agreement.
Each Party shall include in its website referred to in paragraph 1 links to:
the equivalent website of the other Party; and
where appropriate, the websites of its own government authorities and other entities that provide information the Party considers useful to any SME interested in trading, investing, or doing business in that Party’s territory.
Subject to the Parties’ law and available resources, the information described in subparagraph 2(b) may include:
customs regulations and procedures;
enquiry points;
regulations and procedures concerning intellectual property rights;
technical regulations, standards, conformity assessment procedures, and sanitary and phytosanitary measures relating to importation and exportation;
foreign investment regulations;
business registration procedures;
employment regulations;
taxation information;
trade promotion programmes;
information related to the temporary entry of business persons; and
rules on government procurement.
Each Party shall endeavour to include on the website referred to in paragraphs 1 and 2 a link to a database that is electronically searchable, including where possible by HS code, which contains information with respect to access to its market. That information may include:
rates of customs duty to be applied by the Party to the originating goods of the other Party;
the most-favoured-nation applied rates of customs duty;
tariff rate quotas established by the Party;
rules of origin; and
other relevant measures as agreed by the Parties.
Each Party shall regularly, or on request of the other Party, review the information and links on the website referred to in paragraphs 1 and 2 to ensure that the information and links are up to date and accurate.
A Party may recommend to the other Party additional information that the other Party may consider including on its website referred to in paragraphs 1 and 2.
Each Party shall designate and notify to the other Party a contact point on SMEs.
Each Party shall promptly notify the other Party of any change to its contact point.
The contact points shall:
facilitate communications between the Parties on any matter a Party considers relevant to SMEs;
exchange information to assist in monitoring the implementation of this Agreement as it relates to SMEs; and
where appropriate, facilitate coordination between the Parties and any committee, working group, or other subsidiary body established by this Agreement, on any matter covered by this Chapter.
Cooperation to Increase Trade and Investment Opportunities for SMEs
The Parties acknowledge the importance of cooperating to achieve progress in facilitating the development, growth, and competitiveness of SMEs, and reducing barriers to SMEs’ access to international markets.
The Parties may undertake activities to strengthen cooperation under this Chapter including:
identifying ways to assist SMEs of the Parties to take advantage of the commercial opportunities under this Agreement;
exchanging and discussing each Party’s experiences and best practices in supporting and assisting SMEs with respect to, among other things:
training programmes;
trade education;
trade finance;
identifying commercial partners in the other Party;
establishing good business credentials; and
payment practices in the other Party’s market.
identifying non-tariff barriers that adversely affect trade outcomes for SMEs and considering ways to minimise those barriers;
promoting the participation in international trade of SMEs owned or led by under-represented groups, including women, youth, persons with a disability, and minority groups;
facilitating the development of programmes to assist SMEs to participate in and integrate effectively into global markets and supply chains;
fostering innovation and improving SMEs’ access to digital skills and technology;
promoting cooperation between the Parties’ small business infrastructure, including dedicated SME centres, incubators, and accelerators; and
considering any other matter pertaining to SMEs, including any issues raised by SMEs regarding their ability to benefit from this Agreement.
In carrying out any activities pursuant to paragraph 2, the Parties may collaborate with experts, international organisations, or the private sector, as appropriate.
Any cooperation under this Article shall be undertaken only to the extent that it is compatible with each Party’s law and within the Parties’ available resources.
Other Provisions that Benefit SMEs
The Parties recognise that, in addition to this Chapter, there are provisions in this Agreement that seek to enhance cooperation between the Parties on SME issues or that may be of benefit to SMEs.
To enable SMEs to make best use of the opportunities created by this Agreement, the Joint Committee shall, at its first meeting, adopt a joint statement describing the ways in which this Agreement benefits SMEs and outlining the provisions that may be of particular benefit to SMEs.
The Parties may, at any time, adopt a joint statement outlining the cooperation activities that have occurred, or will occur, in accordance with Article 19.3 (Contact Points).
Non-Application of Dispute Settlement
Neither Party shall have recourse to dispute settlement under Chapter 29 (Dispute Settlement) for any matter arising under this Chapter.
Article Article 20.1 Definitions
For the purposes of this Chapter:
“ILO” means the International Labour Organization;
“ILO Centenary Declaration for the Future of Work” means the ILO Centenary Declaration for the Future of Work done at Geneva on 21 June 2019;
“ILO Constitution” means the Constitution of the International Labour Organization
adopted by the Peace Conference at Versailles on 1 April 1919;
“ILO Declaration on Fundamental Principles and Rights at Work” means the ILO Declaration on Fundamental Principles and Rights at Work and its Follow-up done at Geneva on 18 June 1998, as amended in 2022;
“ILO Declaration on Social Justice for a Fair Globalization” means the ILO Declaration on Social Justice for a Fair Globalization done at Geneva on 10 June 2008, as amended in 2022;
“ILO Guidelines for a Just Transition” means the Guidelines for a just transition towards environmentally sustainable economies and societies for all adopted by the Tripartite Meeting of Experts in Geneva on 5 to 9 October 2015; and
“labour laws” means laws and regulations of a Party that are directly related to the fundamental rights and principles in the ILO Declaration on Fundamental Principles and Rights at Work.1
Statement of Shared Commitment
The Parties affirm their commitment to encourage mutually supportive trade and labour policies and practices, including the promotion of adherence to internationally recognised labour rights and decent work, and cooperation and dialogue between the Parties.