RESTRICTED 
WORLD TRADE WT/BOP/W/IO 
BOP/W/164 
15 November 1.995 
ORGANIZATION 
(95-3582) 
Committee on Balance-of-Payments Restrictions 
1995 CONSULTATION WITH THE PHILIPPINES 
UNDER ARTICLE XVIII: 12 Co) 
OF THE GATT 1994 AND THE RELATED UNDERSTANDING 
Background Paper by the Secretariat 
1. This paper has been prepared in accordance with paragraph 12 of the Understanding on the 
Balance-of-Payments Provisions of GATT 1994. It describes the developments since the background 
paper prepared for 1993 full consultation in January 1993 (BOP/W/148). 
1. Previous consultations with the Philippines 
2. The Philippines has held seven consultations in the Committee since its accession to the GATT 
in 1980. Full consultations were held in 1980, 1986 and 1993 and simplified consultations in 1982, 
1984, and 1988 and 1991). At the last full consultation held in February 1993, GATT 1947 Committee 
on Balance-of-Payments restrictions noted that the coverage of quantitative import restrictions had been 
narrowed to 135 items under the 1977 Philippines Standard Classification Code (PSCC). The decision 
had been taken to liberalize approximately half of these over time. The remaining 65 items would 
be restricted for health, safety and national security reasons. In this connection, the Committee 
questioned whether there remained any import restrictions justified under Article XVIILB. 
3. Following a request of the Committee, the Philippines notified by tariff line, all remaining 
restrictions maintained for balance-of-payments purposes on 30 August 1993. The list was further 
revised on 1 November 1994 (BOP/312/Add.l/Rev.l), indicating the tariff bindings applied by the 
Philippines to tariff lines on which restrictions were maintained. In its concluding remarks at the 1993 
full consultation, the Committee looked forward to an announcement by the Philippines of a time schedule 
for the removal of any such restrictions and requested the Philippines to consider the disinvocation 
of Article XVIILB (BOP/R/204). 
4. At the Committee meeting held on 24 November 1993, Members reiterated their wish that 
a timetable for the reduction of these measures and the disinvocation of Article XVIILB, assuming 
that the balance-of-payments situation had not changed substantially, be communicated to the Committee. 
In response, the representative of the Philippines stated that there were still problems as to a timeframe 
for disinvocation; a clearer picture might emerge once the Uruguay Round had been concluded, leading 
to improvements in market access and, as a result, in the balance of payments of the Philippines 
(BOP/R/213). WT/BOP/W/10 
BOP/W/164 
Page 2 
H. Trade and exchange svtem: Evolution since the last consultation 
(i) Import restrictions 
5. The Philippines progressively eliminated quantitative restrictions from 1981. The Import 
Liberalization Program (ILP)is the main instrument under which liberalization since 1986 took place. 
The Philippines continues to maintain import restrictions for balance-of-payments reasons under 
Article XVIII:B. At present 183 tariff lines under the 1977 PSCC are subject to import licensing, 
discretionary import licensing requirements or prohibitions (Annex 1):2 HS tariff lines relate to penicillin 
and other antibiotics: 73 consist of agricultural products; 18 coal and refined petroleum products and 
derivatives; and the rest cover motor vehicles, motorcycles, bicycles; various parts, including engines, 
tyres and seats (Annex 2). 
6. In its schedule attached to the Marrakesh Protocol, the Philippines has bound the tariff rates 
applicable to all agricultural products subject to balance-of-payments restrictions at a maximum rate 
of 40 per cent. The implementation period of the reductions is between 1 July 1997 and 1 July 2003, 
in one, two or three instalments, depending on the product (Annex 2). According to the Statement 
by the Philippines for the present consultation, the Philippines will remove all quantitative restrictions 
on agricultural products, except rice, in favour of tariffication in line with the WTO commitments 
(document WT/BOP/7, paragraph 69). The legislation entitled "An Act to Repeal Quantitative Import 
Restrictions on Agricultural Products, Except Rice, and For Other Purposes" has passed first reading 
in the House of Representatives. It has been referred to the Committee on Agriculture and Food. 
The first public hearing was held on 14 November 1995. 
7. Liberalization in the sector of coal and coal derivatives and refined petroleum products is provided 
in the Energy Sector Action Plan of 1992. 
8. Restrictions on imports of motor vehicles are governed by a specific industry rationalization 
program - the Commercial Vehicle Development Program. The Philippines Central Bank has issued 
Circular No. 92 dated 12 October 1995, liberalizing the importation of new motor vehicles.1 
9. Agricultural imports subject to quantitative restrictions accounted for 1.8 per cent of total imports 
in 1994. The share of motor vehicles and other transport goods was 3.3 per cent and energy products 
another 2.8 per cent. Total share of imports of items subject to balance-of-payments restrictions in 
total imports fell to about 8 per cent in 1994 from 37 per cent in 1980. 
10. After the completion of the Phase II of the ILP, 65 items will continue to be regulated for health, 
safety and national security purposes. 
(ii) Tariffs 
11. The objective of the Tariff Reform Program of 1991 is to arrive at a uniform tariff of 5 per cent 
by 2004. Under the final phase of the Program, tariff rates were halved on a number of products 
as of August 1995. The simple average tariff rate for industrial products (excluding petroleum)is 
'Liberalized items include 7 items covering passenger cars; 6 items covering station wagons; 6 covering 
jeeps; 11 items covering other motor vehicles; 7 items covering motorcycles and scooters; 4 items covering 
motor vehicles for transport of goods, 3 items covering buses and other public transport type passenger motor 
vehicles under 1993 PSCC. WT/BOP/W/10 
BOP/W/164 
Page 3 
currently 26 per cent and the weighted tariff average based on 1991 imports is 22 per cent. The present 
tariff schedule prescribes rates of: (i) 30 per cent for finished goods; (ii) 20 per cent for intermediate, 
semi-processed goods, and spare parts; 10 and 3 per cent for basic raw materials. 
12. In the Uruguay Round the Philippines bound 100 per cent of tariff lines in the agricultural 
sector and 59 per cent of tariff lines in industrial sector, the imports of total bound items representing 
67 per cent of 1991 imports. Post-Uruguay Round tariff and trade profiles are in Chart 1. 
Chart 1 
Post-uruguay round tariff and trade profiles 
Per cent 
50 
40 
30 
20 
10 i i Number of lines 
EZ3 Imports 1991 
9.1-10.0 12.1-13.0 14.1-15.0 19.1-20.0 24.1-25.0 25.1-30.0 30.1-35.0 35.1-40.0 40.1-45.0 45.1-50.0 
Source: WTO Secretariat. 
(iii) Regional Preferential Arrangements 
13. As a member of the Association of South-east Asian Nations (ASEAN) the Philippines has 
a preferential trading arrangement with Indonesia, Malaysia, Singapore, Thailand and Brunei. In 
1992 ASEAN countries agreed to a tariff reduction schedule leading to an ASEAN Free-Trade Area 
by 2003. The Common Effective Preferential Tariff (CEPT) Scheme in effect from 1 January 1993 
provides for reduction of tariffs on all manufactured goods, including capital goods and processed 
agricultural products, to the 0-5 per cent range by year 2003. Under the CEPT scheme member countries 
are also obliged to eliminate all quantitative restrictions after benefitting from the concessions applicable 
to products included in the scheme. 
(iv) Exchange regulations affecting trade 
14. Exchange regulations are administered by the Central Bank of the Philippines (BSP) on the 
basis of policy decisions adopted by the Monetary Board. As of 1992 foreign exchange may be freely 
sold and purchased outside the banking system. Foreign exchange received in the Philippines or acquired WT/BOP/W/10 
BOP/W/164 
Page 4 
abroad may also be deposited in accounts denominated in foreign currency. Commercial banks may 
sell foreign exchange to service payments for imports under letter of credit, documents against 
acceptance, documents against payments, open account arrangement, and direct remittance2. 
HI. Macroeconomic Developments3 
(i) Output, expenditure and prices 
15. The Philippines' economy is making a strong recovery following three years of slow growth 
in the early 1990s (Chart 2). In 1994, GNP increased by 5.2 per cent in real terms, and the indications 
are that the economy will grow by at least the same rate in 1995. Industrial output surged in early 
1994 following the alleviation of power shortages which severely constrained growth in 1992 and 1993 
(Table 1). The service sector, which accounts for about two-fifths of GNP, also expanded rapidly 
during the recovery stage. The recovery of agricultural output was relatively weaker but still fairly 
significant in 1994 even though the prospects for a repeated performance in 1995 are less optimistic 
due to bad weather conditions. 
16. The recovery has been spurred by a strong growth of investment and, in particular, of exports. 
Following a sharp fall in 1991, domestic investments only began to slowly recover in 1992 but the 
growth of investment accelerated in the following years, growing at the rate of 9.6 per cent in real 
terms in 1994 and by 13.7 per cent in the first half of 1995. Exports of goods and services have 
performed even more strongly with the annual rate of growth of 20.3 per cent in real terms in 1994 
and by 16.4 per cent in the first half of 1995. Domestic consumption has been growing far more slowly, 
with private consumption increasing by about 4 per cent in 1994 and the first half of 1995 in real terms. 
17. The annual rate of inflation, measured as the average increase of the consumer price index, 
reached almost 19 per cent in 1991 (Chart 3 and Table 1). However, following the strong stabilization 
efforts in 1991 - 1993 combined with deregulation and other important structural changes including, 
in particular, the tariff reform, import liberalization program and privatization, the average inflation 
rate dropped significantly by the end of 1993, to 7.6 per cent. Since then the record has been uneven. 
There was a temporary acceleration in the rate of inflation in the first half of 1994 due to a high liquidity 
growth, the depreciation of the currency and bad weather that affected agricultural prices. These trends 
were reversed in the second half of 1994 and the inflation again showed down to the annual rate of 
7.1 per cent at the end of 1994; during 1995, the year-to-year rate has accelerated from 6 per cent 
in January to 11 per cent in October. 
2Exchange Arrangements and Exchange Restrictions, IMF; Annual Report 1995. 
3Certain data in this section may have been updated since the report has been written. However, there is 
no major discrepancy between old and new data. WT/BOP/W/10 
BOP/W/164 
Page 5 
Chart 2 - The Philippines - Growth of Real GNP, 1990-95 
(Annual percentage change) 
1995 
January/June 
Table 1 - The Philippines - Selected Macroeconomic Indicators, 
(Annual percentage changes) 
Output2 
Agriculture 
Industry 
Services 
Expenditure2 
Consumption 
Gross domestic investments 
Exports 
Imports 
Prices and wages 
Consumer prices 
(period average) 
Wholesale prices3 
Employment 1990 
0.5 
2.6 
4.0 
5.5 
15.3 
1.3 
10.0 
14.2 
10.2 
--1990-95' 
1991 
1.4 
-2.7 
1.0 
1.8 
-18.9 
5.4 
-1.1 
18.7 
13.4 
3.2 1992 
0.4 
-0.5 
1.0 
2.9 
7.8 
4.3 
7.8 
8.9 
4.5 
3.4 1993 
2.1 
1.6 
2.5 
3.3 
11.1 
6.2 
13.3 
7.6 
-1.1 
2.9 1994 
2.5 
6.1 
3.8 
3.4 
9.6 
20.3 
16.4 
9.0 
8.2 
2.7 1995» 
0.4 
7.9 
4J 
4.1 
13.7 
16.4 
17.0 
-
— 
~ 
'January - June 1995. 
2In constant 1985 prices. 
'Period averages - Metro Manila. 
Source: IMF. WT/BOPAV/10 
BOP/W/164 
Page 6 
Chart 3 - The Philippines - Consumer Prices, 1990-94* 
(Annual percentage change) 
« 
Wm 1 
m 
> i Jp m ^H 
WÈÈ 
< 
Source: IMF. 
•Period averages. 
(ii) The savings - investment balance 
18. The positive feature of the stabilization program in 1991-1993 and the ensuing economic recovery 
has been the significant adjustment of key macroeconomic variables that has taken place over the last 
four years. The adjustment has been particularly reflected in a strong growth of domestic savings which 
has facilitated the scope for financing expansion of domestic investment and anti-inflationary policies 
(Table 2). Following a sharp drop in 1991, private sector savings began to recover in 1992, and the 
savings rate in this sector continued to rise thereafter with a temporary drop in 1993. The savings 
performance of the public sector has also improved. Starting with a large rate of dissavings in 1990, 
the savings performance was completely turned around the following year, when the sector registered 
savings of more than 3 per cent. This savings rate was maintained in 1992-1994. 
Table 2 - The Philippines - Investment and Savings, 1990-94 
(In percent of GNP) 
Gross domestic investment 
Public 
Private 
Gross national savings 
Public 
Private 
Foreign savings 
Source: IMF. 1990 
24.7 
5.4 
19.2 
18.6 
-1.1 
19.7 
6.1 1991 
19.9 
4.8 
15.1 
17.7 
3.3 
14.4 
2.2 1992 
20.8 
5.5 
15.3 
18.9 
2.9 
16.1 
1.8 1993 
23.8 
5.8 
18.0 
18.5 
3.5 
14.9 
5.3 1994 
24.3 
5.6 
18.8 
20.0 
3.1 
16.9 
4.3 WT/BOPAV/10 
BOP/W/164 
Page 7 
19. The strong recovery of savings coupled with the fairly drastic reduction in the rates of investment 
in 1991 - 1992 considerably reduced the need for foreign savings. Foreign savings, represented by 
the current account deficit, as the percentage of GNP dropped significantly during the recession years 
of 1991 and 1992. The subsequent recovery of domestic investment, fuelled mainly by sharply increased 
investments in the private sector, increased the need for extra foreign savings in 1993. However, the 
continued strong growth of domestic savings in 1994 reduced the need for foreign savings, the share 
of which was reduced in 1994. 
(iii) Public finance 
20. The improved savings performance of the public sector reflected the strengthening of its financial 
position. The public sector in the Philippines can be divided into three main groups - the national 
government, public corporations and other public sector institutions such the Central Bank that performed 
quasi-fiscal operations. The financial position of these three groups - the consolidated public sector 
balance - improved considerably after 1990. In 1990, the consolidated public sector accounts were 
in deficit of 4.7 per cent of GNP. This reflected large deficits of all three groups. By 1994, the 
consolidated public sector deficit was reduced to 0.9 per cent of GNP and a further reduction is projected 
to 0.5 per cent of GNP in 1995. According to the preliminary information, it appears that the authorities 
are well on track. The most striking was the turnaround in the position of the Central Bank, from a 
position of large losses, averaging 1 and 1/2 per cent of GNP between 1990-92, to significant surpluses 
following a financial restructuring in late 1993. The deficit of the national government has been also 
reduced as a result of important policy changes both on the revenue and expenditure side and due to 
the strong recovery. 
Table 3 - The Philippines - Fiscal Balances, 1990-95 
(In percent of GNP) 
Consolidated public sector deficit (CPSD) 
Monitored PSBR 
National Government 
Government corporations 
Remaining public sector 
Central Bank/PSB 1990 
-4.7 
-4.1 
-3.4 
-1.8 
-0.6 
-2.0 1991 
-2.1 
-1.3 
-2.1 
-0.6 
-0.8 
-1.7 1992 
-1.9 
-1.5 
-1.2 
-0.8 
-0.4 
-1.6 1993 
-2.0 
-3.0 
-1.4 
-1.7 
1.0 
-1.1 1994 
-1.0 
-0.9 
-0.3 
-0.7 
-0.1 
0.3 1995 
Proj. 
-0.3 
-1.3 
0.0 
-1.1 
1.0 
0.1 
Source: IMF. 
21. Nevertheless, significant fiscal problems still remain. National government debt amounted to 
70 per cent of GNP in 1994, more than half of which constituted domestic debt, which was short-term 
and carried high interest-rates. While the savings performance has improved, public savings remain 
relatively low to finance the ongoing public investment program and to reduce the level of public debt. 
The balance of the monitored public corporations is projected to weaken in 1995 - from -0.6 per cent 
in 1994 to -1.1 per cent in 1995. However, the increased deficit reflects increased capital expenditures 
of several public corporations. WT/BOP/W/10 
BOP/W/164 
Page 8 
(iv) Money and credit 
22. Monetary developments have been marked since about mid-1993 by an unprecedented surge 
in the growth of domestic credit. This reflected a wide ranging liberalization of the financial sector, 
the economic recovery as well as an accomodative monetary policy which started in about mid-1994. 
Commercial bank debt was restructured in December 1992, renewing access of commercial banks to 
international capital markets. The restructuring of the central bank in 1993 facilitated financial sector 
reforms, and allowed the lowering of reserve requirements. Moreover, the increased confidence, 
relatively high interest rates together with the acceleration of economic growth has resulted in a 
significant repatriation of funds from abroad and in a rapid rise of commercial bank deposits. This, 
together with increasing money multiplier and the expansionary monetary policy raised the liquidity 
growth to 26 per cent in December 1994, compared to 11 and 24.6 per cent rates in 1992 and 1993, 
respectively. By the first quarter of 1995, it became clear that the easy money policy was not sustainable 
and the authorities began to tighten the liquidity growth. At the same time, a shift in the money demand, 
reflecting the strong recovery and structural reform, eased further the inflationary pressures from the 
strong growth in money supply. 
IV. Balance of Payments 
23. By most measures, the Philippines' external position strengthened markedly during 1994 and 
into the first half of 1995. In the early part of 1994, the current account deficit increased sharply as 
a result of the strong recovery of domestic output and demand. This was primarily the result of a large 
increase in the trade deficit which was brought about by a rapid acceleration in the growth of imports. 
However, starting in the second half of 1994, the trade balance improved, even in nominal dollar terms, 
and continued to strengthen relative to GNP in the first half of 1995. The share of the current account 
deficit in GNP stood at 4.3 per cent in 1994 compared to the share of 5.3 per cent in 1993. 
Table 4 - The Philippines - Balance of Payments, 1990-94 
(US$ million) 
Trade balance 
Exports, f.o.b. 
Imports, f.o.b. 
Services (net) 
Receipts 
Of which: Remittances' 
Payments 
Of which: Interest 
Transfers (net) 
Current account 
(As percent of GNP) 
Financial account (net) 
Direct and portfolio investment (net) 
Privatization 
Other direct 
Portfolio and other 
Medium- and long-term loans (net) 
Inflows 
Outflows 1990 
-4,020 
8,186 
-12,206 
739 
4,842 
(1,846) 
-4,103 
-2,026 
714 
-2,567 
(-5.8) 
785 
480 
-
171 
309 
-540 
2,556 
-3,096 1991 
-3,211 
8,840 
-12,051 
1,515 
5,624 
(2,515) 
-4,109 
(-1,993) 
827 
-869 
(-1.9) 
1,359 
654 
-
130 
524 
-508 
1,919 
-2,427 1992 
-4,695 
9,824 
-14,519 
3,020 
7,443 
(3,485) 
-4,618 
(-1,703) 
817 
-858 
(-1.6) 
655 
737 
-
234 
503 
-803 
2,161 
-2,9642 1993 
-6,222 
11,375 
-17,597 
2,540 
7,497 
(3,956) 
-4,957 
(-1,485) 
699 
-2,983 
(-5.3) 
1,999 
599 
-
334 
265 
1,384 
4,035 
-2,651 1994 
-7,850 
13,483 
-21,333 
4,074 
10,550 
(5,824) 
-6,476 
(-1,469) 
936 
-2,840 
(-4.3) 
3,986 
1,424 
566 
230 
628 
633 
3,676 
-3,043 WT/BOP/W/10 
BOP/W/164 
Page 9 
Short-term capital (net) 
Trade facility 
Other short-term 
Commercial bank's net foreign assets (-increase) 
Monetization of gold, and valuation adjustments 
Errors and omissions 
Overall balance 
Rescheduling 
Paris Club 
Commercial banks 
Change in arrears 
Change in net international reserves of the central 
bank (- increase) 
Assets (- increase) 
Use of Fund credit (net) 
Memorandum items: 
Reserves, adjusted (months of imports)3 1990 
19 
-140 
121 
61 
199 
481 
-1,782 
1,765 
610 
1,155 
-
99 
328 
-336 
1.5 1991 
349 
-22 
371 
55 
380 
348 
490 
1,694 
807 
887 
-
-2,103 
-2,478 
180 
3.4 1992 
660 
173 
487 
280 
-38 
-181 
-203 
1,695 
1,007 
688 
-
-1,492 
-812 
61 
3.3 1993 
-148 
-1,459 
1,311 
-547 
447 
264 
-984 
818 
211 
607 
--
166 
-584 
112 
2.5 1994 
1,002 
-
1,002 
465 
260 
202 
1,146 
478 
-
478 
178 
-1,802 
-1,200 
-219 
2.7 
'Personal income; and peso withdrawals. 
includes $469 million in purchased collateral. 
3Gross reserves less gold and securities pledged as collateral against short-term liabilities. 
Source: IMF. 
24. The strengthening of the current account position was due to the strong performance of exports 
and mainly the improvement in the services account. Manufactured export growth accelerated to 22 
per cent in US dollar terms in 1994 (18 per cent in volume) compared to just under 20 per cent in 
the previous year. The country's export base has been progressively diversified as the share of garments 
and agricultural exports has been reduced. The electronics industry consolidated its position in 1994 
as the country's leading exporter with shipment of almost 5 billion US dollars, corresponding to 37 
per cent of total exports and to an increase of more than 40 per cent in comparison to 1993. The 
diversification of the export base has also led to geographical changes of exports. Aproximately one 
third of the country's exports are now to Asian countries,another one third to the United States, and 
almost one fifth to Europe and the Middle East (Table 5) The growth of manufactured exports further 
strengthened in 1995, and,according to the IMF, exports were running at the annual rate of 30 per 
cent in nominal terms in the first half of 1995. 
25. At the same time, increased confidence in the government policy and in the performance of 
the economy and relatively high interest rates led to a surge in remittances, private transfers and foreign 
investments. Remittances and private transfers alone were almost sufficient in 1994 to cover the entire 
merchandise trade deficit which increased by 1.6 billion US dollars and amounted to almost 7.9 billion 
US dollars. Capital inflows also increased considerably in 1994. Direct foreign investment increased 
from 600 million US dollars in 1993 to 1.4 billion US dollars in 1994 due to accelerated pace of 
privatization and to a rapid growth of portfolio investments. Short-term capital inflows also increased 
dramatically. All these factors turned the overall balance around, from a deficit of 1 billion in 1993 
to a surplus of more than 1.1 billion US dollars in 1994. resulting in a slight increase in the reserve 
coverage of imports from 2.5 to 2.7 months of imports. There was a temporary outflow of foreign 
capital in the first quarter of 1995 following the market nervousness in the aftermath of the Mexico WT/BOP/W/10 
BOP/W/164 
Page 10 
crisis but the preliminary data for the second quarter indicate that the trend was again reversed. The 
central bank's net international reserves increased in 1994 by 1.8 billion US dollars (Table 6). Its gross 
reserves (excluding gold and securities pledged as collateral for short-term borrowing) rose from 1.6 
billion US dollars in at the end of 1990 to 6.6 billion US dollars at the end of 1994, representing almost 
10 per cent of GNP (Chart 4). 
Table 5 - The Philippines - direction of trade, 1990-94 
(Percentage of total) 
. * 
United States 
Japan 
European Union 
Of which: 
Germany1 
Netherlands 
United Kingdom 
France 
Middle East 
Of which: 
Saudi Arabia 
Kuwait 
Iraq 
ASEAN2 
Of which: 
Indonesia 
Malaysia 
Singapore 
Australia 
Hong Kong 
Korea 
U.S.S.R. (former) 
China 
Other 
All countries 1990 
37.8 
19.7 
17.7 
4.8 
4 4 
4.3 
1 8 
1 6 
0.8 
0.1 
0.0 
7.2 
0.8 
16 
2.9 
1.2 
4.0 
2 8 
0.2 
0.8 
7.0 
100.0 Exports, f.o.b 
1991 
35.6 
20.0 
18.6 
5 " 
3.8 
4 : 
1.9 
1.7 
0 7 
0.0 
0.0 
7.0 
0 5 
1.4 
2.6 
1.2 
4.4 
2.6 
0.2 
1.4 
7.3 
100.0 1992 
39.0 
17.7 
18.9 
5.3 
4 1 
4.8 
1.8 
2.1 
0.6 
0.1 
0 0 
5.3 
0.4 
1.3 
2 6 
1.1 
4.7 
1.8 
0.1 
1.2 
8.1 
100.0 1993 
38.4 
16.0 
17.3 
5.2 
3.2 
4.8 
1.8 
2.3 
0 6 
0.1 
0.0 
6.7 
0.4 
1.4 
3.3 
1.0 
4.8 
1.9 
0.1 
1.5 
10.0 
100.0 1994 
38.1 
15.0 
17.1 
4.9 
3.8 
4.7 
1.4 
1.8 
0.4 
0.1 
0.0 
102 
0 5 
1 6 
5.3 
1.0 
4.8 
2.2 
0.1 
1.2 
8.5 
100.0 1990 
19.4 
18.3 
11.2 
4.4 
1.4 
2.0 
1.2 
12.0 
4 5 
1 6 
0.4 
9.7 
1.5 
2.2 
4.0 
3 0 
4.6 
3.9 
0.2 
1.3 
16.4 
100.0 Imports, f.o.b. 
1991 
20.1 
19.5 
10.3 
3.9 
1.2 
1.8 
1.2 
10.3 
5.3 
0.0 
0.0 
9.2 
1.3 
2.5 
3.8 
3.2 
5.0 
5.0 
0.3 
1.9 
15.2 
100.0 1992 
18.0 
21.2 
11.7 
4.6 
1 2 
2.1 
1.5 
10.8 
6.0 
0.6 
0.0 
9.3 
1.2 
2.7 
3.8 
2.8 
5.0 
4.8 
0.6 
1.3 
14.5 
100.0 1993 
20.0 
22.9 
10.1 
3.5 
1.4 
2.2 
1.1 
8.4 
4.2 
1.1 
0.0 
10.8 
2.0 
2.0 
5.6 
2.7 
5.0 
5.1 
0.5 
1.0 
13.5 
100.0 1994 
18.5 
24.3 
10.3 
3.6 
1.3 
1.8 
1.1 
7.4 
4.4 
0.4 
0.0 
11.5 
1.7 
2.0 
6.8 
2.8 
5.2 
5.2 
0.9 
1.4 
12.4 
100.0 
'Data through 1990 refer to the (former) Federal Republic of Germany, 
association of South-East Asian Nations. 
Source: IMF. WT/BOP/W/10 
BOP/W/164 
Page 11 
Table 6 - The Philippines - International Reserves of the Banking System, 1990-94 
(US$ million; end of period) 
Monetary authorities (net) 
Commercial banks (net)1 
Banking System 1990 
66 
1484 
1550 1991 
2170 
1430 
3600 1992 
3662 
1149 
4811 1993 
3496 
1696 
5192 1994 
5297 
1231 
6528 
'Monetary claims on, and liabilities to, nonresidents. 
Source: IMF 
Table 7 - The Philippines - Total External Debt, 1990-94 
Total 
Medium- and long-term1 
Short-term 
Total 
Medium- and long-term 
Short-term 
Memorandum items: 
Short-term (percentage of total) 1990 
28549 
23261 
4376 
64.1 
52.2 
9.8 
15.3 1991 1992 
(US$ million; end of 
29956 
24043 
4827 
65.0 
52.3 
10.5 
16.1 30934 
24578 
5256 1993 
period) 
34282 
28037 
5035 
(Percentage of GNP) 
57.0 
45.3 
9.7 
17.0 61.2 
50.0 
9.0 
14.7 1994 
37698 
30918 
5716 
56.9 
46.6 
8.6 
15.2 
'Including central bank borrowings on-lent to the public and private sector. 
Source: IMF. 
26. The external debt position has also improved. Even though the total external debt increased 
in 1994 by 3.4 billion US dollars, this reflected mainly the appreciation of the Japanese yen. The ratio 
of total outstanding external debt to GNP declined from 61.2 per cent at the end of 1993 to 56.9 per 
cent at the end of 1994 (Table 7). The ratio of debt service (before rescheduling and excluding the 
IMF) to exports of goods and services fell from 36 per cent in 1990 to 22.2 per cent in 1993 and further 
to 19.6 per cent in 1994 (Table 8). In 1994, the government even agreed to a voluntary prepayment 
of external debt. The authorities approached official creditors in late 1994 with a view of cancelling 
their July 1994 Paris Club rescheduling agreement. The agreement was duly cancelled in January 1995 
and all arrears were cleared by March 1995. WT/BOP/W/10 
BOP/W/164 
Page 12 
Chart 4 - The Philippines - The Shares of International Reserves 
in the Banking System in GNP, 1990-1994 
(In percent) 
.>;:.* 
,*f.»esg? -••'^•si 
« 
Source: IMF. 
Note: Total international reserves include monetary claims on and liabilities to non-residents in commercial 
banks and reserves of the central bank. The former have been relatively stable between 1990 and 
1994, ranging between I SS 1.1 and ISM." billion. 
Table 8 - The Philippines - External Debt Service, 
(In millions of U.S. dollars) 
Debt service before rescheduling 
and accumulation of arrears 
Rescheduling 
Debt service after rescheduling 
and changes in arrears 
Debt-service ratio (including 
IMF) 
Before rescheduling 
After rescheduling and 
changes in arrears 
Ratio of interest payments 
(before rescheduling) to GNP 1990-94 
1990 
4559 
1765 
2794 
35.0 
21.5 
4.5 1991 
4391 
1694 
2697 
30.4 
18.6 
4.3 1992 
3981 
1695 
2286 
23.1 
13.2 
3.1 1993 
3951 
817 
3133 
20.9 
16.6 
2.6 1994 
4 
899 
478 
4243 
20.4 
17.7 
2.2 
'Excluding monetary liabilities and debt conversions. 
Sources: IMF. WT/BOP/W/10 
BOP/W/164 Annexl Page 13 
List of remaining regulated/prohibited commodities 
I. Agricultural products 
A. Items requiring congressional action prior to 
liberalization 
1. Rice and corn 
2. Coffee 
3. Onion, garlic, potato, cabbage 
B. Agricultural products under M095 (excluding 
corn) 
II. Non-Agricultural Products 
A. Items covered by rationalization/development 
programme 
1. Motor vehicles** 
2. Penicillin 
B. Coal and refined petroleum products 
C. Items for continued regulation for health, safety 
an national security 
1. Dangerous drugs 
2. Sodium cyanide and CFSs 
3. Agricultural pesticides 
4. Chemicals for explosives 
5. Used tyres 
6. Colour photocopying machines 
7. Banknotes and coins 
8. Warships 
9. Pyrotechnics 
10. Amunitions and firearms 
11. Games and amusements machines 
12. Use clothing and rags 
13. Toy guns 
14. Radioactive materials 1977 
PSCC 
27 
14 
9 
4 
46 
27 
25 
2 
18 
65 
4 
4 
7 
9 
4 
3 
2 
1 
2 
22 
1 
2 
1 
3 
183 1993 
PSCC 
33 
11 
18 
4 
51 
67 
64 
3 
21 
89 
4 
6 
10 
9 
6 
3 
10 
1 
2 
25 
2 
3 
1 
7 
261 Diff* 
6 
(3) 
9 
-
5 
40 
39 
1 
3 
24 
-
2 
3 
-
2 
-
8 
-
-
3 
1 
1 
-
4 
78 
Due to revision of PSCC lines 
As of October 19, 1995 (Circular 92) 
Source: The Philippines authorities Annex 2 
List of Agricultural Products Subject to Import Restrictions under Article XVIII:B 
No. 
(1) 
1. 
2. 
3. 
4. 
4(a). 
5. 
6. 
7. PSCC1977 
(2) 
001.39-00 
001.41-09 
001.49-01 
001.49-02 
001.49.09 
011.30-00 
011.41-00 
011.89-02 Product Description 
(3) 
Swine live, other than for breeding 
and scientific purposes 
Other live poultry of a weight not 
exceeding 185 g. nes. 
Chickens.live of a weight exceeding 
185 g. for breeding 
Chickens.live of a weight exceeding 
185 g., other than for breeding 
Poultry, live, of a weight exceeding 
185 g., nes. 
Meat of swine, fresh, chilled 
or frozen 
Chickens, killed or dressed,fresh, 
chilled or frozen 
Poultry meat nes, fresh, chilled 
or frozen HS 
(4) 
0103.91.00 
0103.92.00 
0105.19.90 
0105.91.10 
0105.91.90 
0105.91.20 
0105.99.90 
0203.11.00 
0203.12.00 
0203.19.00 
0203.21.00 
0203.22.00 
0203.29.00 
ex 0207.10.12 
ex 0207.21.00 
ex 0207.10.90 
ex 0207.21.00 
ex 0207.23.00 Nature or OR 
(5) 
Discretionary Import 
Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing Schedule LXXV - Philippines , 
Base 
rate of 
duty Bound 
rate Implementation 
period Special Safeguard 
under Article 5 of 
the Agreement on 
Agriculture Tariff quota1 
60 
40 
80 
80 
80 
80 
100 
100 
100 
100 
100 
100 
100 
100 
60 
100 
80 40 
36 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 1 July 1999 1999, 
2003, 
1 July 1999 
1 July 1997, 1999, 
2003 
" 
» 
-
" 
" 
" 
" 
" 
" SSG 
SSG 
SSG) 
SSG) 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG I & F 2,570 
head 
1995-2004 
1-5,708,120 
F -9,513,540 
head 
1995-2004 
I - 32,520 MT 
F -54,210 MT 
1995-2004 
I - 14,090 MT 
F- 23,490 MT 
1995-2004 *a 
<T> 
£ 03 <, 
SH 
"0 -~t 
< o 
£: *o 
£ No. 
(1) 
8. 
9. 
7(a). 
10. 
11. 
12. 
13. 
14. 
15. 
16. 
17. 
18. 
19. 
20. PSCC 1977 
(2) 
011.42-00 
011.43-00 
011.89-03 
012.12-00 
012.11-00 
012.13-00 
012.19-00 
012.99-03 
012.92-01 
012.99-01 
054.11-00 
054.51-02 
054.51-01 
054.59-09 Product Description 
(3) 
Ducks, killed or dressed, fresh, 
chilled or frozen 
Turkeys, killed or dressed, fresh, 
chilled or frozen 
Meat, fresh, chilled or frozen, nes 
Ham and shoulders, dried, salted 
or smoked 
Bacon 
Pork salted 
Other dried, salted or smoked 
meat of swine 
Poultry liver, salted, in brine, 
dried or smoked 
Chicken meat, salted, in brine, 
dried or smoked, not in airtight 
containers 
Meat meal and meat flour, fit for 
human consumption 
Potatoes, fresh or chilled* 
Onions, fresh or chilled* 
Garlic, fresh or chilled* 
Cabbage, fresh or chilled* HS 
(4) 
0207.10.12 
ex 0207.23.00 
ex 0207.43.00 
0207.10.11 
0207.22.00 
0207.39.10 
0207.42.00 
0207.43.00 
0208.90.00 
ex 0210.11.00 
ex 0210.12.00 
ex 0210.19.00 
ex 0210.19.00 
ex 0210.90.00 
ex 0210.90.00 
ex 0210.90.00 
0701.90.00 
ex 0703.10.00 
0703.20.00 
ex 0704.90.00 Nature of QR 
(S) 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Prohibition 
Prohibition 
Prohibition 
Prohibition Schedule LXXV - Philippines 
Base 
rate of 
duty 
100 
80 
80 
100 
50 
100 
50 
80 
100 
100 
100 
100 
100 
100 
100 
100 
100 
100 
100 
100 Bound 
rate 
40 
40 
40 
40 
35 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 Implementation 
period 
" 
" 
1 July 1997, 2002 
1 July 1997, 1999, 
2003 
" 
" 
" 
" Special Safeguard 
under Article 5 of 
the Agreement on 
Agriculture 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG Tariff quota1 
I - 930 MT 
F- 1,550 MT *d W <! 
ux < O 
2^ No. 
(1) 
21. 
22. 
23. 
24. 
25. 
26. 
27. 
28. 
29. 
30. 
31. 
32. 
33. 
34. PSCC 1977 
(2) 
054.81-01 
054.81-03 
071.11-01 
071.11-02 
071.11-03 
071.11-04 
071.12-02 
071.12-01 
071.12-03 
071.13-00 
071.20-00 
041.10-00 
041.20-00 
045.10-00 Product Description 
(3) 
Manioc (cassava), fresh or dried 
Sweet potatoes (camotes), fresh 
or dried* 
Arabica coffee, raw or green, 
not roasted * 
- Coffee, raw or green, not roasted, 
n.e.s. * 
Coffee husks and skins * 
Robusta * 
Coffee, roasted, ground * 
Coffee, roasted, unground * 
Coffee, roasted, ground, 
decaffeinated * 
Coffee, substitutes containing coffee 
in any proportion * 
Extracts, essences or concentrates 
of coffee and preparations with a 
basis 
of those extracts and essences* 
Durum wheat, unmilled 
Other wheat (incl. spelt) 
and meslin, unmilled 
Rye, unmilled HS 
(4) 
0714.10.00 
0714.20.00 
0901.11.00 
0901.12.00 
0901.11.00 
0901.12.00 
0901.30.00 
0901.11.00 
0901.12.00 
ex 0901.21.00 
ex 0901.21.00 
ex 0901.22.00 
0901.40.00 
2101.10.00 
1001.10.00 
1001.90.10 
1001.90.90 
1002.00.00 Nature of QR 
(5) 
Prohibition 
Prohibition 
Prohibition 
Prohibition 
Prohibition 
Prohibition 
Prohibition 
Prohibition 
Prohibition 
Prohibition 
Prohibition 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing Schedule LXXV - Philippines 
Base 
rate of 
duty 
50 
50 
100 
100 
100 
100 
100 
100 
100 
100 
100 
100 
30 
50 
50 
40 Bound 
rate 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
50 
20 
30 
30 
30 Implementation 
period 
1 July 1997, 2002 
" 
1 July 1997, 1999, 
2003 
" 
" 
" 
" 
1 July 1997,2002 
1 July 1997, 1999, 
2003 
1 July 1997, 2002 Special Safeguard 
under Article 5 of 
the Agreement on 
Agriculture 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG Tariff quota1 
I & F - 5.9 
MT 
1995-2004 No. PSCC 1977 Product Description HS Nature of QR 
(1) (2) (3) (4) (5) 
35. 
36. 
37. 
38. 
39. 
40. 
41. 
42. 
43. 
44. 
45. 
46. 
47. 
48. 
49. 043.00-00 
045.20-00 
044.02-00 
044.01-00 
045.92-00 
045.99-00 
046.02-00 
047.02-02 
048.11-01 
048.11-03 
048.11-02 
592.12-00 
014.21-00 
014.22-00 
014.99-00 Barley, unmilled 
Oats, unmilled 
Corn seeds (of all varieties for 
propagation) 
Maize (corn) unmilled 
Sorghum unmilled 
Other cereals, unmilled, n.e.s. 
Groats, meal and pellets of wheat, 
including meslin 
Meal, groats and pellets of maize 
Barley, pearled, rolled or flaked 
Oats, kibbled or rolled 
Maize kibbled 
Wheat gluten, whether or not dried 
Sausages of all kinds, not in airtight 
containers 
Sausages of all kinds, in airtight 
containers 
Other prepared or preserved meat 
and edible offals, nes. 1003.00.00 
1004.00.00 
1005.10.00 
1005.90.00 
1007.00.00 
1008.90.00 
1103.11.00 
1103.21.00 
1103.13.00 
ex 1103.29.00 
1104.11.00 
1104.21.00 
ex 1104.12.00 
ex 1104.22.00 
ex 1104.23.00 
11 A00.00 
ex 1601.10.00 
ex 1601.10.00 
1602.20.00 
1602.49.00 
1602.50.10 
1602.50.90 Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing Schedule LXXV - Philippines 
Base 
rate of 
duty 
40 
40 
100 
100 
60 
50 
50 
50 
50 
50 
50 
50 
50 
50 
100 
40 
100 
100 
100 
100 
100 
100 Bound 
rate 
30 
30 
50 
50 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
30 
40 
40 
40 
40 
40 
40 Implememtation 
period 
" 
-
1 July 1997, 1999, 
2003 
1 July 1997, 1999, 
2003 
1 July 1997, 2003 
" 
1 July 1997, 1999, 
2003 
1 July 1997, 2002 
1 July 1997, 1999, 
2002 Special Safeguard 
under Article 5 of 
the Agreement on 
Agriculture 
SSG 
SSG 
SSG 
SSG 
SGS 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SGS 
SSG 
SSG 
SSG 
SSG Tariff quota1 
I- 130,160 
MT 
F - 216,940 
MT 1995-
2004 J 
*0 
OQ 
ft 
2 3 
H 
O No. 
m 
50. 
51. 
52. 
53. 
54. 
55. 
56. 
57. 
58. 
59. 
60. 
61. 
62. 
63. PSCC 1977 
(2) Product Description 
(3) HS 
(4) Nature of QR 
(5) 
Chicken meat in airtight containers ex 1602.39.10 
Other poultry meat, in airtight ex 1602.39.10 
containers 
Ham, in airtight containers ex 1602.41.10 
Bacon, in airtight containers ex 1602.49.00 
Pork luncheon meat ex 1602.49.00 
in airtight containers 
Edible offals of swine, salted in ex 1602.49.00 
brine, dried or smoked 
Pork in airtight containers ex 1602.49.00 
Beef, in airtight containers ex 1602.49.00 
Meat and meat preparations.in airtight ex 1602.42.00 
ex 1602.49.00 
containers, n.e.s. ex 1602.50.10 
ex 1602.50.90 
014.99-00 Other prepared or preserved meat and ex 1602.90.10 014.92-01 
014.92-09 
014.91-02 
014.91-01 
014.91-04 
014.99-04 
014.91-03 
014.91-05 
014.91-09 
edible offals, nes. 
014.93-00 Meat pastes and spreads 
081.21-00 Bran, sharps, and other residues 
from the sifting, milling or working 
of rice or maize 
081.22-00 Brans, sharps, and other residues 
from the sifting, milling or working 
of other cereals 
081.93-04 Corn gluten feed and other residues 
from the manufacture of starch 
(e.g. from maize, potatoes, etc.) ex 1602.90.90 
ex 1602.90.10 
ex 1602.90.90 
2302.10.00 
2302.20.00 
2302.40.00 
2303.10.00 Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Prohibition 
Prohibition 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing Schedule LXXV - Philippines 
Base Bound Implementation Special Safeguard Tariff quota1 
rate of rate period under Article 5 of 
duty the Agreement on 
Agriculture *0 
00 
oo 
100 
100 
100 
100 
100 
100 
100 
100 
100 
100 
100 
100 
50 
50 
50 
50 
30 
30 
30 
30 40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
40 
20 
20 
20 
20 " 
" 
" 
> 
" 
-
" 
" 
July 1997, 2002 
-
» 
-SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG 
SSG CO <! 
S3 
SSG 
1 Allocation on 4 digit tariff lines 
I Initial quota quantity 
F Final quota quantity 
Source-, GATT 1947 document BOP/312/Add.l/Rev.l and Philippines Schedv^^.XXV. List of energy, motor vehicle and other products subject to import restriction under Article XVIII:B 
No. 
(1) 
Cont'd 
64. 
65. 
66. 
67. 
68. 
69. 
70. 
71. 
72. 
73. 
74. 
75. 
76. 
77. PSCC 1977 
(2) 
322.10-00 
322.20-00 
323.11-00 
334.51-01 
334.51-02 
334.51-04 
334.40-09 
334.11-01 
334.11-02 
334.11-09 
334.19-01 
334.21-00 
334.40-01 
334.30-09 Product Description 
(3) 
Anthracite, whether or not 
pulverized, but not agglomerated 
Other coal, whether or not 
pulverized, but not agglomerated 
Briquettes, ovoids and similar solid 
fuels manufactured from coal 
Lubricating oil when imported with 
prior authorization of the Board of 
Energy 
Lubricating oil when imported without 
prior authorization of the Board of 
Energy 
Lubricating oil base stock when 
imported with prior authorization of 
the Board of Energy 
Fuel oil, n.e.s. 
Gasoline, aviation 
Gasoline, motor 
Motor spirits, nes 
Petroleum naphtha 
Kerosene, including kerosene 
type jet fuel 
Gas oil (bunker fuel) 
Other gas oil HS 
(4) 
2701.11.00 
2701.19.00 
2701.20.00 
ex 2710.00.20 
ex 2710.00.90 
ex 2710.00.20 
2710.00.31 
ex 2710.00.90 
ex 2710.00.59 
ex 2710.00.90 
2710.00.32 
2710.00.33 
ex 2710.00.59 
ex 2710.00.51 
ex 2710.00.59 
ex 2710.00.51 
ex 2710.00.59 Nature of QR 
(5) 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing No. 
a) 
78. 
79. 
80. 
81. 
82. 
83. 
84. 
85. 
86. 
87. 
88. 
89. 
90. 
91. 
92. 
93. PSCC 1977 
m 
334.51-09 
341.39-02 
541.71-04 
541.71-19 
625.99-01 
625.99-07 
625.99-02 
625.99-03 
625.99-06 
625.91-03 
625.91-12 
625.91-09 
ex 713.22-05 
ex 713.22-06 
ex 713.21-02 
781.02-00' Product Description 
(3) 
Preparations not elsewhere specified 
or included, cntng. not less than 70% 
by wt. of petroleum oils or of oils obtained from bituminous minerals, 
these oils being the basic constituents 
of the preparations 
Liquefied petroleum gas (LPG) 
Penicillin 
Other antibiotics, n.e.s. 
Automobile tires, of all sizes, used 
Truck tires, of all sizes, used 
Motorcycles tyres, of all sizes, used 
Bicycle tyres, of all sizes, used 
Tractor tyres of all sizes, used 
Automobile tubes of all sizes, used 
Bicycle tubes of all sizes, used 
Motorcycle tubes, of all sizes, used 
Gasoline and kerosene engines for 
trucks and buses, used 
Gasoline and kerosene engines for 
tractors, used 
Diesel and semi-diesel engines for 
tractors, used 
Passenger cars (excluding buses), 
other than diesel or semi-diesel, 
unassembled, with not more than 4 
cylinders completely knocked down and 
specially fabricated for local assembly (may be imported only by duly 
licensed assemblers of passenger cars) HS 
(4) 
ex 2710.00.90 
ex 2711.19.00 
ex 3003.10.00 
ex 3004.10.00 
ex 3003.10.00 
ex 3003.20.00 
ex 3004.10.00 
ex 3004.20.00 
ex 4012.20.10 
ex 4012.20.10 
ex 4012.20.20 
ex 4012.20.20 
ex 4012.20.90 
ex 4013.10.00 
ex 4013.20.00 
ex 4013.90.00 
ex 8407.31.90 
ex 8407.32.90 
ex 8407.33.90 
ex 8407.34.90 
ex 8407.31.10 
ex 8407.31.90 
ex 8407.32.10 
ex 8407.32.20 
ex 8407.32.90 
ex 8407.33.20 
ex 8407.33.90 
ex 8407.34.20 
ex 8407.34.90 
8408.20.90 
8408.20.20 
ex 8703.21.00 
ex 8703.22.00 
ex 8703.23.00 
ex 8703.24.00 Nature of QR 
(5) 
Import Licensing 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing c*>~ r—y 
No. 
(1) 
94. 
95. 
96. 
97. 
98. 
99. 
100. PSCC 1977 
(2) 
781.08-001 
781.14-00 
781.18-001 
781.19-002 
781.05-003 
781.16-003 
781.17-00 Product Description 
(3) 
Passenger cars (excluding buses), 
other than diesel or semi-diesel, 
assembled with not more than 4 
cylinder, new 
Passenger cars (excluding buses), 
other than diesel or semi-diesel, 
with 6 cylinders, used 
Station wagons, new 
Station wagons, used 
Jeeps and similar vehicles with 4 
cylinders, CKD, and specially 
fabricated for assembly (may be 
imported only by duly licensed 
assemblers) 
Jeeps, jeepstars and similar 
vehicles, new 
Jeeps, jeepstars and similar 
vehicles, used HS 
(4) 
ex 8703.21.00 
ex 8703.22.00 
ex 8703.23.00 
ex 8703.24.00 
ex 8703.23.00 
ex 8703.24.00 
ex 8703.21.00 
ex 8703.22.00 
ex 8703.23.00 
ex 8703.24.00 
ex 8703.31.00 
ex 8703.32.00 
ex 8703.33.00 
ex 8703.21.00 
ex 8703.22.00 
ex 8703.23.00 
ex 8703.24.00 
ex 8703.31.00 
ex 8703.32.00 
ex 8703.33.00 
ex 8703.21.00 
ex 8703.22.00 
ex 8703.23.00 
ex 8703.31.00 
ex 8703.32.00 
ex 8703.33.00 
ex 8703.21.00 
ex 8703.22.00 
ex 8703.23.00 
ex 8703.31.00 
ex 8703.32.00 
ex 8703.33.00 
ex 8703.21.00 
ex 8703.22.00 
ex 8703.23.00 
ex 8703.31.00 
ex 8703.32.00 
ex 8703.33.00 Nature of QR 1 
(5) 
Import Licensing 
Discrectionary 
Import Licensing 
Discretionary 
Import Licensing 
Discretionary 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing *0 
CTQ 
CD 
£ 3 
H 
W 
o 
*0 No. 
U> 
101. 
102. 
103. 
104. 
105. 
106. 
107. 
108. PSCC 1977 
(2) 
781.09-001 
781.28-001 
781.03-001 
781.14-00 
781.06-003 
781.04-001 
781.11-001 
781.15-001 Product Description 
(3) 
Passenger cars (excl. buses) other 
than diesel or semi-diesel assembled, 
with six cylinders, new 
Passenger road motor vehicles, nes. 
Passenger cars (excluding buses) 
other than diesel or semi-diesel, 
unassembled, with 6 cylinders, CKD 
and specially fabricated for local 
assembly (may be imported only by 
duly licensed assemblers of passenger 
cars) 
Passenger cars (excl-buses), other 
than diesel or semi-diesel, with more 
than 6 cylinders, used 
Jeeps and similar vehicles with 6 
cylinders, CKD and specially 
fabricated for assembly (may be 
imported only by duly licensed 
assemblers) 
Passenger cars (excluding buses), 
other than diesel or semi-diesel 
unassembled, with more than 6 
cylinders, CKD and specially 
fabricated for local assembly (may be 
imported only by duly licensed 
assemblers of passenger cars) 
Passenger cars (excluding buses), 
other than diesel or semi-diesel, 
assembled with more than 6 cylinders, 
new 
Passenger cars (excluding buses), 
other than, diesel or semi-diesel, 
with more than 6 cylinders used HS 
(4) 
ex 8703.23.00 
ex 8703.24.00 
Various 
ex 8703.23.00 
ex 8703.24.00 
ex 8703.24.00 
ex 8703.23.00 
ex 8703.24.00 
ex 8703.24.00 
ex 8703.24.00 
ex 8703.24.00 Nature of QR 
(5) 
Import Licensing 
-* 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing y » < 
w ^ S 
to < O 
33 No. 
(1) 
109. 
110. 
111. 
112. 
113. 
114. 
115 
116 
117 PSCC1977 
(2) 
781.01-00 
781.07-001 
781.12-00 
781.23-00 
784.11-00 
784.12-00 
ex 784.15-00 
784.22-00 
ex 784.94-00 Product Description 
(3) 
Passenger cars (excl. buses) e.g. 
automobiles, diesel or semi-diesel, 
unassembled, CKD and specially 
fabricated for assembly ( may be 
imported only by duly licensed 
assemblers of passenger cars 
Passengers cars (excluding buses), 
e.g. automobiles, diesel or 
semi-diesel assembled, new 
Passenger cars (excl. buses) e.g., 
automobiles, diesel or semi-diesel 
assembled, used 
Components, parts and/or accessories 
imported from one or more countries 
for assembly of passenger cars by 
participants in the Progressive Car 
Manufacturing Program upon prior 
authorization and certification of 
theBOI 
Passenger motor car chassis fitted 
with engines, diesel or semi-diesel 
Passenger motor car chassis fitted 
with engines, other than diesel or 
semi-diesel 
Completely knocked down components 
for light commercial vehicles 
Motor vehicle bodies and/or shells 
(other than for trucks and buses) and 
cabs (may be imported only by 
qualified assemblers upon prior 
approval of the CB) 
Accessories for road vehicles, nes. HS 
(4) 
ex 8703.90.12 
ex 8703.31.00 
ex 8703.32.00 
ex 8703.33.00 
ex 8703.31.00 
ex 8703.32.00 
ex 8703.33.00 
8703.90.12 
ex 8706.00.90 
ex 8706.00.90 
ex 8703.90.11 
ex 8707.90.00 
Various Nature of QR 
(S) 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing No. 
(1) PSCC1977 
(2) Product Description 
(3) IIS 
(4) Nature of QR 
(5) 13 ta rjq 
rs to DO 
O 
'U 
^ 
1^ ^ *~1 
H 
00 
O 
"13 118 
119 
120 
121 785.13-00" 
785.14-00" 
785.15-00" 
785.16-00" 
122 
123 
124 785.17-00" 
785.18-00" 
785.39-01 
125 
126 
127 
128 ex 821.11-01 
ex 821.11-02 
ex 821.11-05 
ex 821.11-09 Motorcycles (including all types of 
motorized cycles) and side cars, 
assembled 
Motorcycles, CKD, and especially 
fabricated for motorcycle assembly 
plants, not incl batteries (may be 
imported only by duly licensed 
assemblers of motorcycles) 
Scooters, unassembled 
Scooters, assembled 
Other motorized cycles, nes, 
unassembled 
Other motorized cycles, nes, assembled 
Motorcycle and sidecar parts (not 
including rubber tires, engines, 
electric parts, CKD parts and storage 
batteries 
Seats of wood for motor vehicles 
Seats of metal for motor vehicles 
Seats of plastic for motor vehicles 
Seats of other materials, n.e.s., for 
motor vehicles ex 8711.10.00 
ex 8711.20.00 
ex 8711.30.00 
ex 8711.40.00 
ex 8711.50.00 
ex 8711.90.10 
ex 8711 
ex 8711 
ex 8711 
ex 8711 
ex 8711 
ex 8711 
ex 8711 
ex 8711 
ex 8711 
ex 8711 .10.00 
.20.00 
.30.00 
.40.00 
.50.00 
.10.00 
.20.00 
.30.00 
.40.00 
.50.00 
ex 8711.90.90 
ex 8711.90.90 
ex 8714.11.00 
ex 8714.19.00 
ex 9401.20.00 
ex 9401.20.00 
ex 9401.20.00 
ex 9401.20.00 Import Licensing 
» 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing 
Import Licensing S3 
~ootnote: 
* Importation is prohibited, except for seedling purposes. 
1 7 Items under 1993 PSCC are liberalized 
2 6 items under 1993 PSCC are liberalized 
3 6 items under 1993 PSCC are liberalized 
4 7 items under 1993 PSCC are liberalized 
Source GATT 1994 document BOP/312/Add.l/Rev.l and Central Bank of Pj^oines Office Circular No 92. 