College Thesis On RTAs impact to the Philippines
Impact of Philippine Participation in Regional Trading Arrangements II. ASEAN In 1992, the Association of Southeast Asian Nations (ASEAN) original members comprising Brunei, Indonesia, Malaysia, Philippines, Singapore, and Thailand (ASEAN-6) agreed to establish an ASEAN Free Trade Area (AFTA) and eliminate tariff and non-tariff barriers by the year 2008. ... In the Philippines alone, the tariff reform program of 1995 targeted a uniform tariff rate of 5% by the year 2000. ... ASEAN-CEPT (Common Effective Preferential Tariff Program) As part of the Association of Southeast Asian Nations, the Philippines have committed itself to the organization’s agreement of Common Effective Preferential Tariff Program (CEPT). This means that the Philippines must apply CEPT tariff rates to imports from other ASEAN members while using MFN (Most-Favored Nation) tariff rates to outside ASEAN countries. The latter is because of the Philippines commitment also to the World Trade Organization (WTO). ... 95 Philippines 12. ... 8% Philippines 2395 41. ... 8% Source: AFTA in the Dynamic Perspective of Asian Trade, Tran Van Tho With the reduction of tariff rates across ASEAN and among ASEAN, the Philippines could enjoy the lower tariff rates among its neighbors giving them a bit more clout to become competitive in other markets of ASEAN countries.