RP will stick with AFTA<\/p>\n
The Philippines will cut tariffs on schedule with its ASEAN
\nFree Trade Area (AFTA) commitments despite industry calls for
\ncontinued protection, the trade secretary said in a report
\nMonday.<\/p>\n
"The president's posture is that we will abide by our
\ninternational commitments," Trade Secretary Manuel Roxas was
\nquoted as saying in Manila the BusinessWorld newspaper.<\/p>\n
Under AFTA most countries in the 10-member Association of
\nSoutheast Asian Nations (ASEAN) must cut import tariffs to a
\nmaximum of five percent by 2003.<\/p>\n
Roxas said, "We will review (tariff reductions), avail of
\nremedies and comply with our international agreements. There is
\nno inconsistency in these three imperatives."<\/p>\n
Many local industries have been demanding that the government
\ngive them continued protection against AFTA-mandated tariff cuts.<\/p>\n
Last month Roxas told an AFTA council that the Philippines
\nwould delay the liberalization of its petrochemical industry, a
\nmove that raised concerns of backsliding on market-opening
\ncommitments.<\/p>\n
Philippine President Gloria Arroyo also said last month, "I am
\nadopting the policy to slow the (tariff) liberalization program
\nphase only to the minimum and to take full advantage of all
\naccepted loopholes allowed."<\/p>\n
Under AFTA rules countries may seek to temporarily opt out of
\ntheir commitments in sectors which they feel are not prepared to
\nface foreign competition. -- AFP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/rp-will-stick-with-afta-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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