Free trade agreements seen raising import utilization within ASEAN; Japan lagging

December 9, 2020 Business World 0 Comments

PHILIPPINE FREE TRADE agreements (FTA) have increased imports from ASEAN, but those from partners like Japan have underperformed, according to a study conducted by the Philippine Institute for Development Studies (PIDS).

The study, FTA Utilization of Philippine Imports, published this month, found that the import ratio increases the larger the gap between the tariff rate under the free trade deals and the duties paid by all members of the World Trade Organization.

The import ratio refers to the actual use of imports under an FTA compared to the total products eligible under the agreement. Read More.

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