Asean Free Trade Agreement Philippines

The production trend is therefore to continue to develop products for this huge consumer market, but to place the necessary production capacities for this purpose in a cheaper place. ASEAN`s free trade agreement with China allows regional companies and NCMs operating in Asia to do so. It`s a trend that`s already underway — as we`re seeing at Foxconn, the maker of many components that end up in Apple`s products, which wants to relocate its 1.3 million employees from China and Indonesia, where wages are lower and there`s a large and available workforce. This is a solid strategy that is increasingly being taken up by many manufacturers. Other free trade agreements Under ASEAN, the Philippines has preferential trade agreements 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/ to find a list of Philippine trade agreements and the corresponding customs plans and commitments. For more information on trade, please visit the website of the Http://pntr.gov.ph/ National Trade Repository of Philippines. In order to promote greater use of the CEPTAFTA system, substantial transformation has also been introduced as an alternative rule in the determination of the origin of CEPT products. The CEPT Rules of Origin Task Force is currently developing key processing rules for certain product sectors, including wheat flour, iron and steel and the 11 priority integration sectors under Bali Concord II.

Towards trade ASEAN exports returned to their upward trend in the two years following the 1997-1998 financial crisis and peaked in 2000, when total exports were estimated at $408 billion. After falling to $366.8 billion in 2001 due to the economic slowdown in the United States and Europe and the recession in Japan, ASEAN exports rebounded in 2002 from an estimated $380.2 billion. The upward trend for ASEAN-6 continued until the first two quarters of 2003. In the first two quarters of 2003, intra-ASEAN trade increased by 4.2% and 1.6% respectively in exports and imports. [Figures 2, 3 &4] “It means several things. Maintain, or even further accelerate, the AFTA calendar. Identify and remove barriers to trade and investment. Take effective measures to make trade and investment as simple as possible and as inexpensive as possible. Realizing our dream of a smooth transport network within ASEAN for a freer flow of goods and people.

Networking of our telecommunications systems. This means opening our services to each other – transport, community The management of AFTA is carried out by the national customs and trade authorities of each ASEAN member. The ASEAN Secretariat has the authority to monitor and ensure compliance with AFTA measures, but has no legal authority to enforce them. This has led to contradictory decisions by the ASEAN national authorities. The ASEAN Charter aims to strengthen the capacity of the ASEAN Secretariat to ensure consistent implementation of AFTA`s actions. RULES OF ORIGIN To benefit from preferential tariff treatment under these existing free trade agreements, imported goods must meet the conditions set out in the rules of origin (ROO) of any free trade agreement. ROOS are a set of criteria used to determine the country in which products come from international trade. It is essential because it aims to prevent non-members of a free trade area from benefiting from the tariff preference rates granted by the various Member States. Simply put, the ROO determines a product`s entitlement to concessions or preferential tariff treatment by finding that the goods actually originate in an FTA Member State. . .

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