International Trade Agreements Philippines

By december 11, 2020Geen categorie

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 Investment Chapter (Chapter 7) establishes a requirement for contracting parties to authorize the investments of other contracting parties in accordance with their laws and regulations. It also expresses the intention of the parties to offer investors from other parties stable, non-discriminatory and transparent investment conditions and stresses the importance of investment promotion. In addition, the parties recognize that it is inappropriate to encourage investment by relaxing health, safety and environmental standards. Finally, the chapter provides for a review of investment issues within five years of the agreement`s entry into force, taking into account the treatment of non-party parties in other free trade agreements. It describes the bilateral and multilateral trade agreements to which that country belongs, 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. Other ASEAN free trade agreements have concluded a preferential agreement with China, Hong Kong, India, Japan, South Korea, Australia and New Zealand.

Visit www.dti.gov.ph/15-main-content/dummy-article/682-free-trade-agreements and tariffcommission.gov.ph/finder/ for a list of Philippine trade agreements and tariff plans and related commitments. More information on trade is also available on the Philippine National Trade Repository website pntr.gov.ph/. The Philippines is currently our 31st largest trading partner for goods, with a total of $21.4 billion (two and twice) in 2019.