The Philippines said it and the European Free Trade Association (EFTA) are working to improve utilization of their free trade agreement (FTA), which were 31% for the Philippines and 30% for the four-member EFTA bloc in 2020. READ:
THE Philippines said it and the European Free Trade Association are working to improve utilization of their free trade agreement , which were 31% for the Philippines and 30% for the four-member EFTA bloc in 2020.
“This agreement facilitates increased market access, reduction of non-tariff barriers, trade and sustainable development, and protection of intellectual property rights among others, which we see as crucial for the Philippine economy,” Trade Secretary Alfredo E. Pascual said. The DTI valued the Philippine agricultural and industrial products entering the EFTA zone tariff-free at €24.84 million in 2020. These products include tuna, desiccated coconut, fruit and nuts, processed food and food preparations, malt products, vacuum cleaners, new pneumatic tires, and hairdressing apparatus.
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