As a large-scale agreement, the free trade agreement covers trade in goods, trade in services, investment, competition, protection of intellectual property rights, public procurement, trade and sustainable development. In the area of merchandise trade, EFTA removes all tariffs on industrial products from the time the agreement comes into force, while the Philippines will gradually reduce or eliminate its tariffs on the vast majority of these products. Chapter 6 on Trade in Services closely follows the approach of the WTO`s General Agreement on Trade in Services (GATS). It covers trade in all service sectors under the four types of supply. Separate annexes to financial services (Annex XIII), telecommunications services (Annex XIV), the free movement of individuals (Annex XV), maritime transport services (Annex XVI) and energy-related services (Annex XVII) complete the chapter with additional disciplines specific to these sectors. The lists of contracting parties with specific obligations and derogations from the treatment of the most favoured nation (MPF) are listed in Schedules XI and XII respectively. These lists are subject to regular revision to further liberalize the exchange of services between the two parties. The agreement also provides for tariff concessions for both agricultural commodities and processed agricultural products in the bilateral annexes VIII to X of the agreement. Specific provisions to facilitate trade in fish and other seafood are contained in a separate annex of the trade chapter (Annex V). The agreement contains provisions to remove export duties, but the Philippines has maintained the possibility of these tariffs for the protocols, as indicated in Schedule IV.
The parties recognize that economic development, social development and environmental protection are interdependent. In Chapter 11, they reaffirm their commitment to multilateral contracts and principles in the environment and work and commit to a level of protection by recognizing the right of each party to set its own level of environmental and labour protection. Arbitration procedures do not apply to this chapter. Negotiations for a trade and investment agreement between the EU and the Philippines began on 22 December 2015. The aim is to conclude an agreement covering a wide range of issues, including tariffs, non-tariff barriers, trade in services and investment, as well as the trade aspects of public procurement, intellectual property, competition and sustainable development. Discover new ways to expand your international presence. Canada`s broad (and growing) commercial network provides Canadian businesses with preferential access to various markets around the world. This page examines Canada`s Free Trade Agreement (FTA), Foreign Investment Promotion and Protection Agreements (FIPA), multilateral agreements and World Trade Organization (WTO) agreements.