What Are The Other Philippines Trade Agreements With Regional Trade Organizations
May 31, 2019, the Philippines informed the EFTA secretariat of the entry into force of Customs Management Regulation 4-2019, which provides exporters with the legal basis for claiming reimbursement of wrongly collected duties between the entry into force of the EFTA-Philippines agreement on 1 June 2018 and the effective implementation date in the Philippines on 24 October 2018. The fees must be submitted within one year of the date of payment of taxes to the district collector`s organization from which the tax was collected. Accepted claims are paid for by tax credits. The Philippines has been a member of the WTO since 1995 and enjoys enhanced trade preferences with the EU under the EU Plus Generalised Preference System (GSP). The United States and the Philippines have had a very close trade relationship for more than a hundred years. We meet regularly with the Philippines under the 1989 Bilateral Framework Agreement on Trade and Investment (TIFA) to address outstanding bilateral issues and coordinate on bilateral, regional and multilateral issues. Under TIFA, the United States and the Philippines also signed agreements on customs administration and trade facilitation (2010), cooperation on the cessation of illicit transshipments of textiles and clothing (2006) and the implementation of the Philippines` minimum access obligations (1998). 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. These lists are subject to regular revision to further liberalize the exchange of services between the two parties. Philippines – European Free Trade Association Free Trade Agreement The Philippines and EFTA countries – Iceland, Liechtenstein, Norway and Switzerland – signed a free trade agreement in 2016, which is expected to enter into force in 2018.
The Philippines-EFTA covers trade in goods, trade in services, investment, competition, intellectual property, government procurement, trade and sustainable development. 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. 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. The agreement contains provisions for remedial measures (Articles 2.12 to 2.15), namely subsidies and countervailing measures, anti-dumping measures, global safeguards and temporary safeguards. The parties recognize that economic development, social development and environmental protection are interdependent.