News » PH maintains bilateral FTA with Iceland, Norway

PH maintains bilateral FTA with Iceland, Norway

PH maintains bilateral FTA with Iceland, Norway

The Philippines and the European Free Trade Association (EFTA) countries have agreed to push for more trade to improve the free trade agreement (FTA) as it serves as a tool for economic recovery after the pandemic.

The Department of Trade and Industry (DTI) Undersecretary Ceferino S. Rodolfo held bilateral meetings with the EFTA Secretariat Deputy Secretary-General Franck Buchel on the sidelines of the just concluded 12 World Trade Organization (WTO) Ministerial Meeting here. 

The Philippines’ bilateral FTA with EFTA countries Iceland, Liechtenstein, Norway, and Switzerland was enforced in June 2018.

Rodolfo noted that while the Philippines was able to turn around its trade deficit with the EFTA countries since the FTA was implemented, there is still room for improvement as the utilization rate of the preferential tariff privileges by exporters has remained low.

During the talks, Rodolfo highlighted the country’s improving utilization rate of the FTA to 31 percent in 2020 from 30 percent in 2019.

“The Philippines remains keen to maximize the benefits of its second bilateral FTA and is exerting utmost efforts in promoting the use of the FTA,” the DTI undersecretary concluded.

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.