CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Philippines May Soon Ratify FTA With European States

Philippines May Soon Ratify FTA With European States

by Mary Swire, Tax-News.com, Hong Kong

08 January 2018


Having endorsed the deal, the President of the Philippines, Rodrigo Duterte, has forwarded on a bill to ratify the free trade agreement with the European Free Trade Association states to the Senate.

The deal was signed in 2016 between the Philippines and the EFTA states: Switzerland, Iceland, Norway, and Liechtenstein. It will enter into force once it has been ratified by all parties.

According to EFTA, when the deal becomes effective, the EFTA states will abolish all customs duties on imports of industrial products, including fish and other marine products, from the Philippines. The Philippines will gradually eliminate customs duties on industrial products, including fish and other marine products, originating in an EFTA state. Some product lines, notably in the area of fish and other marine products, are excluded from tariff elimination or reduction. The tariff concessions for industrial products including fish and other marine products are found in annexes II and III of the deal.

The agreement also provides for tariff concessions on both basic and agricultural products, as covered by the bilateral annexes VIII to X of the agreement. Specific provisions facilitating trade in fish and other marine products are included in a separate annex to the goods chapter (annex V). Provisions abolishing export duties are contained in the agreement. However, the Philippines has kept the possibility for such duties for logs, as set out in annex IV.

TAGS: marine | Iceland | export duty | Liechtenstein | Norway | Philippines | Switzerland | import duty | trade | free trade zone | Europe

To see today's news, click here.

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 











Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »