Philippines: EFTA-Philippines Free Trade Agreement Signed
The Philippines and Member States of the European Free Trade Association (EFTA) – Iceland, Liechtenstein, Norway, and Switzerland – signed a comprehensive Free Trade Agreement (FTA) on April 28, 2016. The EFTA-Philippines FTA abolishes all customs duties on industrial products as of the entry into force of the Agreement, whereas the Philippines will gradually lower or abolish its duties on the vast majority of such products. The Agreement also provides for tariff concessions on agricultural products. The EFTA-Philippines FTA will enter into force after completion of the necessary internal procedures for ratification by the Parties, a timeline for which has not been defined.