9 months Zero duty for Korean cars likely under planned bilateral FTA MB |Biz
By Bernie Cahiles-Magkilat The Philippines has agreed to look into South Korea’s request that the government removes the import duty for the latter’s cars and parts in exchange for investments in the production of electric motors and batteries in the country for the assembly of e-vehicles as both countries enter into negotiations for a “forward-looking” bilateral free trade agreement (FTA). Ceferino S. Rodolfo Trade and Industry Undersecretary Ceferino S. Rodolfo told reporters they are closely studying South Korea’s request for zero duty for its cars and auto parts exported from Korea to entice Korean car companies to choose the Philippines ... more