Philippines – European Free Trade Association Free Trade Agreement The Philippines and EFTA countries – Iceland, Liechtenstein, Norway and Switzerland – signed a free trade agreement in 2016, which is expected to enter into force in 2018. The Philippines-EFTA covers trade in goods, trade in services, investment, competition, intellectual property, government procurement, trade and sustainable development. Many sectors will participate in the meeting of the Joint Working Group on Trade and Investment, which was set up by both countries, said Eugenio C Elevado Jr., trade advisor to the Philippine Trade and Investment Center in New Delhi. In order to facilitate the implementation of this agreement and to strengthen their mutual trade and economic relations, the parties agree to consult, at least once a year, on a common place and place on which an agreement could be made. To this end, the two governments agree to appoint senior officials to verify the implementation of this agreement and identify areas of cooperation between the two countries in the areas of industry, trade and technology. India and the Philippines have agreed to work on a preferential trade agreement (EPZ) that will reduce and eliminate tariffs on many products on which both sides will negotiate. India and the Philippines signed a trade agreement in 1979. Bilateral trade between the two countries was slow until the late 1990s, and then grew positively after india-ASEAN deepened relations in the context of “East India policy.” The Goods Trade Agreement, signed on 13 August 2009 between India and ASEAN; and was fully implemented in 2011 and contributed to the increase in bilateral trade. India is part of the regional negotiations on Global Economic Partnerships (RCEP), which will also contribute to economic integration and contribute to economic integration. Bilateral trade currently stands at $1738.99 million (India`s exports at USD 1287.07 million and India`s imports at $451.92 million). [Source: MOC for CFY 2019-20 Apr-Jan]. The existing total potential has not been exploited and it is necessary to continue to facilitate trade between the two countries, especially as the two economies develop and complement each other.
Other ASEAN free trade agreements have concluded a preferential agreement 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/ for a list of Philippine trade agreements and tariff plans and related commitments. More information on trade is also available on the Philippine National Trade Repository website pntr.gov.ph/. It describes the bilateral and multilateral trade agreements to which that country belongs, including with the United States. Includes websites and other resources that allow U.S. companies to get more information about how they can use these agreements. (d) any benefit or preference granted under a programme of trade expansion and economic cooperation between developing countries, which are open to the participation of all developing countries to which one of the contracting parties can or can be heard. He spoke on a webiner exploring business opportunities between the two countries, organized by the World Trade Center Metro Manila and the World Trade Center Mumbai.