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. For eFTA-Philippines trade statistics, see EFTA trade statistics tool The free trade agreement covers trade in goods, trade in services, investment, competition, protection of intellectual property rights, public procurement, trade and sustainable development. In the area of merchandise trade, EFTA removes all tariffs on industrial products from the time the agreement comes into force, while the Philippines will gradually reduce or eliminate its tariffs on the vast majority of these products. The parties recognize that economic development, social development and environmental protection are interdependent. In Chapter 11, they reaffirm their commitment to multilateral contracts and principles in the environment and work and commit to a level of protection by recognizing the right of each party to set its own level of environmental and labour protection. Arbitration procedures do not apply to this chapter. Intellectual property protection provisions (Chapter 8 and Appendix XVIII) include trademarks, copyrights, patents and geographical indications, and include provisions for respect for intellectual property rights and cooperation between the parties. These provisions are based on the WTO agreement on trade-related aspects of intellectual property rights (TRIPS) and provide for a high level of protection, taking into account the principles of the most favoured nation and national treatment.
Since December 2014, the Philippines has benefited from enhanced trade preferences with the EU under the EU`s Generalized Preferences Plus System (GSP). The Special Incentive for Sustainable Development and Good Governance Scheme provides for the total elimination of tariffs for two-thirds of all product categories, with the aim of supporting sustainable development and good governance. The Philippines has been a member of the WTO since 1995 and enjoys enhanced trade preferences with the EU under the EU Plus Generalised Preference System (GSP). The Philippines is currently our 31st largest trading partner for goods, with a total of $21.4 billion (two and twice) in 2019. Exports of goods amounted to US$8.6 billion; Imports of goods amounted to $12.8 billion. In 2019, the merchandise trade deficit with the Philippines was $4.1 billion. Discover new ways to expand your international presence. Canada`s broad (and growing) commercial network provides Canadian businesses with preferential access to various markets around the world. This page examines Canada`s Free Trade Agreement (FTA), Foreign Investment Promotion and Protection Agreements (FIPA), multilateral agreements and World Trade Organization (WTO) agreements. Note: The texts of the treaty on this page are exclusively for information; the official texts of the treaties are published in the “Treaty of Canada” series. ASEAN Merchandise Trade Agreement The 2010 ASEAN Goods Trade Agreement (ATIGA) consolidated all commitments of the ASEAN Effective Customs Free Trade Area (CEPT/AFTA) for merchandise trade.