Free Trade Agreement (FTA) With Dialogue Partners

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35 Terms

1

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Which one among the following choices is the best definition for "Free Trade Area"?

a. It is exclusively a tariff-cutting agreement among contracting parties aiming to liberalize tariffs on all goods traded between them.

b. It is a regional area established by contracting parties wherein there is a free flow of trade resulting from the liberalization of import tariffs.

c. It is an area established through multilateral negotiations between countries with the objective of liberalizing tariffs and eliminating all trade barriers to promote freer flow of trade between them.

d. It is a type of trade bloc comprising of countries that have agreed to eliminate tariffs, quotas and other barriers to trade and to increase trade of goods and services with each other.

2

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Which one among the following choices is not a requirement to be satisfied in order to be eligible for the preferential tariff under the ACFTA?

a. The product should be classified in the NT list of both participating countries

b. The product should be originating under the ROO requirements of the ACFTA

c. The shipment should have a duly issued CO Form "E"

d. As per the ACFTA's Reciprocity Rule, the product should be classified under the ST list of the exporting participant with a tariff rate above 10% and classified under the NT list of the importing participant

3

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Which one among the following statements is erroneous in relation to ASEAN FTAs with dialogue partners?

a. A product imported into the Philippines from Indonesia and covered with a CO Form "E".

b. A product of China with ST rate of 10% can avail of tariff preference by virtue of the tariff reciprocity principle under ACFTA when it is imported into the Philippines where the product is classified under its NT list.

c. One of the requirements for an imported product to avail of tariff preference under the AJCEP is for it to be accompanied with CO Form AJ issued by the competent government authority of the exporting participant.

d. A product of China with ST rate of 8% exported to the Philippines where the product is also classified under its ST list with rate of 10%, can still avail of the tariff preference granted under the Reciprocity Rule of the ACFTA Agreement.

4

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Under the Reciprocity Rule of the ACFTA Agreement, which one among the following conditions is invalid under the Rule?

a. The product to be imported is in the NT list of the Philippines and in the ST list of the exporting FTA partner

b. That the product's ST rate in the exporting FTA partner should be 10% or below

c. The applied rate is the rate that is higher between the exporting FTA partner's ST rate and the Philippines NT rate

d. That the applied rate under the Reciprocity Rule should not be lower than the importing FTA partner's MFN rate.

5

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Under which one of the following conditions can the Reciprocity Rule be applied under the ACFTA Agreement?

a. The product is in the NT list of the exporter and in the ST list of the importer with ST rate of 10%

b. The product is in the NT list of both trading partners at NT rate of 10% or below

c. The product is in the ST list of both the exporter and importer with ST rate of 10% or below

d. The product is in the ST list of the exporter at 7% ST rate and in the NT list of the importer at 5% NT rate and 10% MFN rate

6

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Aside from China in which dialog partners below is the FTA includes the tariff reciprocity rule?

a. Korea

b. India

c. Japan

d. Hongkong

a. Korea

7

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In order for an originating China product to be eligible under the Tariff Reciprocity Rule of the ACFTA, what should be the product's tariff rate?

a. The product should have an ST rate of 10% or below at the importing party

b. China NT rate of 10% or below

c. The importer must have the product under its ST list

d. China ST rate of 10% or below

c. The importer must have the product under its ST list

8

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Philippine participation in all Free Trade Agreements is in pursuance of which one of the CMTA provisions below?

a. Flexible Clause (Sec. 1608)

b. Classification Ruling (Sec. 1100)

c. General Rules for Interpretation (Sec. 1610)

d. Promotion of Foreign Trade (Sec. 1609)

9

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Which one of the following choices is the latest concluded ASEAN FTA with dialog partner?

a. PH-EFTA FTA

b. AHKFTA

c. ATIGA

d. PJEPA

b. AHKFTA

10

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A product from China with ST and MFN rate of 7% was exported to the Philippines which categorized the product under NT list, and tariffs are ACFTA 3% and MFN 10%. What will be the tariff rate applicable?

a. China ST rate of 7%

b. China MFN 7%

c. Philippine NT 3%

d. Philippine MFN 10%

a. China ST rate of 7%

11

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Which ASEAN country below is not included in the schedule of tariff reduction under AHKFTA?

a. Brunei

b. Malaysia

c. Singapore

d. Thailand

c. Singapore

12

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The Philippines imported a product listed in its ST list with ST and MFN rates of 5%. From Korea with NT rate of 3% and MFN rate of 7%. Which one of the choices below is the applicable tariff?

a. Philippine MFN rate

b. Philippine ST rate

c. Korean MFN rate

d. Korean NT rate

a. Philippine MFN rate

13

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This is the product category that is included in ACFTA but not in AKFTA in consideration of the tariff reciprocity rule?

a. ST 10% and below

b. NT

c. EHP

d. MFN

c. EHP

14

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Which specific kind of fish below is among the products excepted from the PH-EFTA FTA?

a. Bangus

b. Tilapia

c. Salmon

d. Lapulapu

b. Tilapia

15

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For the reciprocal tariff treatment to apply, which of the following are required?

a. The product is listed in the sensitive track of the exporting country with rate of duty of 10% or below and in the normal track of the importing country

b. The product is listed in the sensitive track of both the exporting and importing countries.

c. The product is listed in the normal track of the exporting country and in the sensitive track of the importing country with rate of duty of 10% or below

d. The product is listed in the normal track of both the exporting and importing countries

a. The product is listed in the sensitive track of the exporting country with rate of duty of 10% or below and in the normal track of the importing country

16

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The early harvest program covers the reduction to 0% tariff on products covered by HS Chapters 1 to 8. This program is provided only in which of the following agreement?

a. AIFTA

b. AKFTA

C. ACFTA

d. AJCEPA

C. ACFTA

17

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The CMTA does not contain applicable FTA rates for except for ATIGA. If such information is required, e.g., ACFTA rates, which of the following sources can be referred to?

a. PSCC

b. PTF

c. AHTN

d. HS

b. PTF

18

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It is the only free trade agreement were the ASEAN member states negotiated with two dialogue partners

a. AJCEPA

b. ACFTA

c. AKFTA

d. AANZFTA

19

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Most FTAs allow the use of either the direct or indirect method in the RVC calculation. However, there is one that requires the use of indirect method only. Which among the following is the FTA being referred to?

a. AJCEPA

b. ACFTA

c. AIFTA

d. AKFTA

a. AJCEPA

20

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There are two types of free trade agreements, the bilateral and multilateral. Identify which of the following choices is not a multilateral free trade agreement.

a. PJEPA

b. AJCEPA

c. AFTA

d. ACFTA

a. PJEPA

21

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Which one of the following Free Trade Agreements is not between the ASEAN and its dialogue partners?

a. AJCEPA

b. AANZFTA

c. PH-EFTA FTA

d. AIFTA

c. PH-EFTA FTA

22

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Which one among the following is the FTA with a dialog partner that provides for a particular paragraph specifically identifying the goods considered as special products.

a) AKFTA

b) ACFTA

c) AIFTA

d) ATIGA

c) AIFTA

23

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With regards to the AKFTA tariff reciprocity rule, which one of the following statements is incorrect?

a. Exporter's ST rate of duty have been reduced to 10% or below

b. In importer's NT

c. In the importer's EHP list

d. the applied import duty should not exceed the MFN rate of the importing party.

c. In the importer's EHP list

24

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In which one of the following FTAs is the issuance of CO not required in confirming that the product exported is originating?

a. ATIGA

b. AANZFTA

c. PH-EFTA FTA

d. PJEPA

c. PH-EFTA FTA

25

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A product can enjoy the preferential tariff rate under the AKFTA if it has complied with three of the following requirements. Identify the one that is not required.

a. It is placed under the NT list of both the importing and exporting countries

b. It is Wholly-Obtained or complied with the governing ROO

c. With Certificate of Origin Form "AK";

d. Made entirely of materials from the region

26

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The special products mentioned in paragraph C of the AIFTA product coverage refers to the following India's products except for one which is

a. Crude and refined palm oil

b. Coffee and black tea

c. Pepper

d. Processed petroleum oils

27

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Aside from the CLMV, which country in the ASEAN was granted exception of 15% of its tariff lines from the concession in the AHKFTA?

a. Philippines

b. Indonesia

c. Thailand

d. Malaysia

b. Indonesia

28

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This is the free trade agreement signed at Helsinki, Finland on 09 September 2006 and ratified 08 October 2008 pursuant to Senate Resolution No. 131. Which one of the FTAs below is referred to?

a. PH-EFTA FTA

b. AICECA

c. PJEPA

d. AANZFTA

c. PJEPA

29

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It is in this type of products that the EFTA states have separate lists as contained in three annexes. What kind of products is being referred to?

a. manufactured goods

b. fish and fish products

c. agricultural products

d. pharmaceutical products