The Philippines and the European Free Trade Association (EFTA) states have confirmed that the free trade agreement is “working well” and has no “critical implementation” issues to date, according to the Department of Trade and Industry (DTI). Know more:
THE Philippines and the European Free Trade Association states have confirmed that the free trade agreement is “working well” and has no “critical implementation” issues to date, according to the Department of Trade and Industry .
“Over the 5 years of implementation, both sides have confirmed that the FTA is working well and has no critical implementation issues to date. The preferential utilization rates for the Philippines and EFTA Member States were reported at 31 percent and 30 percent for 2020, respectively,” the DTI said in a statement on Monday.
“We are privileged to be the EFTA’s first recipient partner of this online web tool to promote the PH-EFTA FTA. This will really benefit the Philippines and EFTA business community,” Rodolfo said. Prior to the convening of the Joint Committee, “the Sub-Committee on Trade in Goods [TIG] met to discuss the technical operationalization of the TIG Chapter of the FTA, including market access, customs, rules of origin, and trade facilitation,” said DTI.
These Philippine products, the agency noted, include tunas, desiccated coconuts, fruits and nuts, processed foods and other food preparations, pasta, malt products, vacuum cleaners, new pneumatic tires, and hairdressing apparatus.
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