NEDA approves Asean-Korea Free Trade Agreement
Manila (1 April) -- Press Secretary Cerge Remonde announced yesterday that the National Economic and Development Authority (NEDA) Board, chaired by President Gloria Macapagal-Arroyo, has approved the Asean-Korea Free Trade Agreement.
The agreement provides tariff elimination on 90 percent of lines in the normal track by January 1, 2009, Remonde said.
An executive order implementing the tariff reduction schedule from 2009 to 2012 on 7,867 lines covered under the normal track of the Asean-Korea Free Trade Agreement (AKFTA) will be issued shortly, Remonde said. (PNA) [top]