Which Free Trade Agreements Has The Philippines Recently Entered Into Why

The agreement contains detailed provisions on trade facilitation (Annex VI), including some more WTO provisions. The provisions are open, among other things, to preliminary decisions and limit the possibility of new fees and taxes. The EU works closely with ASEAN as a whole. Cooperation will be maintained through the EU-ASEAN dialogue, which includes discussions on trade and investment issues between ministers and senior economic officials. Further information on EU-Philippine trade and investment negotiations, including EU-proposed circular texts and reports, describe the bilateral and multilateral trade agreements to which the EU is a party, including with the United States. Includes websites and other resources that allow U.S. companies to get more information about how they can use these agreements. The agreement also provides for tariff concessions for both agricultural commodities and processed agricultural products in the bilateral annexes VIII to X of the agreement. Specific provisions to facilitate trade in fish and other seafood are contained in a separate annex of the trade chapter (Annex V). The agreement contains provisions to remove export duties, but the Philippines has maintained the possibility of these tariffs for the protocols, as indicated in Schedule IV.

As soon as the agreement enters into force, EFTA states lift all tariffs on imports of industrial products, including fish and other seafood originating in the Philippines. The Philippines will phase out tariffs on industrial products, including fish and other seafood, originating in an EFTA state. Certain product lines, particularly in the fish and other seafood sectors, are excluded from the removal or reduction of tariffs. Tariff concessions for industrial products, including fish and other seafood, are included in Appendix II and III. Negotiations for a trade and investment agreement between the EU and the Philippines began on 22 December 2015. The aim is to conclude an agreement covering a wide range of issues, including tariffs, non-tariff barriers, trade in services and investment, as well as the trade aspects of public procurement, intellectual property, competition and sustainable development. The Trade and Investment Agreement will develop a key aspect of EU relations with the Philippines, based on the EU-Philippines framework agreement that came into force in March 2018. ASEAN Merchandise Trade Agreement The 2010 ASEAN Goods Trade Agreement (ATIGA) consolidated all commitments of the ASEAN Effective Customs Free Trade Area (CEPT/AFTA) for merchandise trade.

It aims to create an internal market and a production base with the free movement of goods in the ASEAN region, an important part of the ASEAN Economic Community (AEC). ATIGA includes tariff liberalization, initiatives to facilitate trade, simplification of rules of origin and the creation of an ASEAN trade register. Visit investasean.asean.org/ for up-to-date information on ASEAN trade. Chapter 6 on Trade in Services closely follows the approach of the WTO`s General Agreement on Trade in Services (GATS). It covers trade in all service sectors under the four types of supply. Separate annexes to financial services (Annex XIII), telecommunications services (Annex XIV), the free movement of individuals (Annex XV), maritime transport services (Annex XVI) and energy-related services (Annex XVII) complete the chapter with additional disciplines specific to these sectors. The lists of contracting parties with specific obligations and derogations from the treatment of the most favoured nation (MPF) are listed in Schedules XI and XII respectively.