Philippines issues guidelines for implementation of FTA with S Korea

The FTA seeks to improve trade relations between the Philippines and South Korea, supporting regional integration and economic growth.

The executive order was signed by President Ferdinand R Marcos Jr.

The memorandum includes provisions on pre-export inspection or product assessment, certificate of origin issuance, procedures for obtaining ‘approved exporter’ status, and origin declaration completion, an official release from the Philippine department of customs said.

Under the EO, goods originating in South Korea and listed in the Philippine schedule of duty commitments will be eligible for reduced or zero-duty rates. To qualify for preferential treatment, these goods must meet origin requirements and be accompanied by the appropriate proof of origin.

ALCHEMPro News Desk (DS)