President Ferdinand Marcos Jr. has issued an executive order implementing the Philippines' tariff schedule under the Free Trade Agreement with South Korea. The order, effective December 31, 2024, outlines import duty rates for goods originating from South Korea to comply with the agreement's terms. The PH-KR FTA aims to bolster economic ties and bilateral trade by reducing tariff barriers.
President Ferdinand Marcos ”Bongbong” Marcos Jr. has issued an executive order implementing the Philippines ’ schedule of tariff commitment under the country’s Free Trade Agreement with South Korea .The directive was under EO No. 80, signed by Executive Secretary Lucas Bersamin, by authority of the President, issued December 23, 2024.
“All originating goods from Republic of Korea listed in the aforementioned Philippine Schedule of Tariff Commitments under Section 1 hereof, that are entered into or withdrawn from warehouses or free zones in the Philippines for consumption or introduction to the customs territory, shall be levied the rates of duty as prescribed therein, subject to the submission of a Proof of Origin, in compliance with all applicable requirements under the PH-KR FTA,” it added.
Philippines South Korea Free Trade Agreement Tariff Import Duty
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