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Business

Tariff body sets public hearing

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In line with President Arroyo’s recent policy directive to slow down on the country’s tariff reductions, the Tariff Commission will hold a public bearing on Jan. 21 on the proposed increase of the Most Favored Nation (MFN) bound rates to 40 percent from the existing seven percent on various agricultural products.

The Tariff Commission will also hear proposed modifications of tariff rates on various agricultural and other products under the Common Effective Preferential Tariff (CEPT) and the Agricultural and Fisheries Modernization Act (AFMA).

Among the agricultural products to be covered by increased MFN bound rates are leeks/other alliaceous vegetables; cauliflowers/headed broccoli; lettuce and chicory, carrots, turnips, salad beetroot, salsify, celeriac, radishes and other similar edible roots; cucumbers and gherkins; peas; celery; fruits of the genus Capsium/Pimenta; spinach; vegetables, provisionally preserved; peel of citrus fruits or melons; and ginger.

President Arroyo had already ordered the Department of Agriculture and the Bureau of Plant Industry (BPI) to temporarily stop issuing import permits for vegetable products due to the influx of cheap imported vegetables purportedly from China. – Marianne Go

AGRICULTURAL AND FISHERIES MODERNIZATION ACT

CAPSIUM

COMMON EFFECTIVE PREFERENTIAL TARIFF

DEPARTMENT OF AGRICULTURE AND THE BUREAU OF PLANT INDUSTRY

JAN

MARIANNE GO

MOST FAVORED NATION

PIMENTA

PRESIDENT ARROYO

TARIFF

TARIFF COMMISSION

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