THE NATIONAL Economic and Development Authority (NEDA) Board on Tuesday approved two projects worth P63.2 billion, as well as the release of an executive order (EO) that will implement the tariff commitments under the Philippines-South Korea free trade deal.
The EO will cover Manila’s tariff commitments under the Philippines-South Korea Free Trade Agreement (FTA), which was sealed in September last year, NEDA Secretary Arsenio M. Balisacan said in a statement.
South Korea is the Philippines’ third-largest import source, accounting for $989.72 million or 8.3% of Philippine imports in October this year, the Philippine Statistics Authority reported earlier this month.
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