Why Are Free Trade Agreements Necessary For The Philippines
Intellectual property protection provisions (Chapter 8 and Appendix XVIII) include trademarks, copyrights, patents and geographical indications, and include provisions for respect for intellectual property rights and cooperation between the parties. These provisions are based on the WTO agreement on trade-related aspects of intellectual property rights (TRIPS) and provide for a high level of protection, taking into account the principles of the most favoured nation and national treatment. Other ASEAN free trade agreements have concluded a preferential agreement with China, Hong Kong, India, Japan, South Korea, Australia and New Zealand. Visit www.dti.gov.ph/15-main-content/dummy-article/682-free-trade-agreements and tariffcommission.gov.ph/finder/ for a list of Philippine trade agreements and tariff plans and related commitments. More information on trade is also available on the Philippine National Trade Repository website pntr.gov.ph/. 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. For AELE-Philippines trade statistics, see the EFTA Trade Statistics Tool describes the bilateral and multilateral trade agreements to which that country is affiliated, including with the United States. Includes websites and other resources that allow U.S. companies to get more information about how they can use these agreements. Philippines – European Free Trade Association Free Trade Agreement The Philippines and EFTA countries – Iceland, Liechtenstein, Norway and Switzerland – signed a free trade agreement in 2016, which is expected to enter into force in 2018.
The Philippines-EFTA covers trade in goods, trade in services, investment, competition, intellectual property, government procurement, trade and sustainable development. The Investment Chapter (Chapter 7) establishes a requirement for contracting parties to authorize the investments of other contracting parties in accordance with their laws and regulations. It also expresses the intention of the parties to offer investors from other parties stable, non-discriminatory and transparent investment conditions and stresses the importance of investment promotion. In addition, the parties recognize that it is inappropriate to encourage investment by relaxing health, safety and environmental standards. Finally, the chapter provides for a review of investment issues within five years of the agreement`s entry into force, taking into account the treatment of non-party parties in other free trade agreements. Chapter 6 on Trade in Services closely follows the approach of the WTO`s General Agreement on Trade in Services (GATS).