Manila (10 January)– President Gloria Macapagal-Arroyo has issued Executive Order No. 850, removing import duties on more products coming from Brunei Darussalam, Indonesia, Malaysia, Singapore, and Thailand. The executive oder took effect on January 1, 2010.
EO 850 is a commitment of the Philippines to the ASEAN Free Trade (AFTA), a free trade bloc agreement to increase ASEAN’s competitive edge in the world market.
Products covered by lower tariffs within ASEAN are manufacturing goods and “those falling outside the definition of unprocessed agricultural products” approved by the board of the National Economic and Development Authority (NEDA).
