The Bureau of Customs (BOC) has issued the Customs Memorandum Order (CMO) 11-2024 entitled “Guidelines on the Issuance of Proof of Origin, Granting of Preferential Tariff Treatment Under the Philippines–Korea Free Trade Agreement (PH-KR FTA)” to facilitate the implementation of Executive Order (EO) No. 80.
President Ferdinand R. Marcos Jr. recently signed EO 80, which mandates the adjustment of import duty rates on certain goods by the Philippines’ tariff commitments under the PH-KR FTA. This landmark agreement aims to strengthen trade relations between the Philippines and South Korea, enhance economic growth, and foster regional integration.
The CMO, signed by Customs Commissioner Bienvenido Y. Rubio, took effect on December 31, 2024, coinciding with the implementation of EO 80. It includes pertinent provisions such as pre-exportation examination or product evaluation, procedures for the issuance of Certificates of Origin, application processes for obtaining “Approved Exporter” status, obligations of an “Approved Exporter,” procedures for completing an Origin Declaration, and verification protocols. These comprehensive guidelines are designed to ensure seamless compliance with the agreement and maximize the benefits of preferential trade terms.
Under EO 80, originating goods from South Korea listed in the Philippine Schedule of Tariff Commitments will be subject to reduced or zero tariff rates. To qualify for preferential treatment, these goods must meet the specified rules of origin and be accompanied by the required proof of origin.
“The issuance of this Customs Memorandum Order underscores the BOC’s commitment to facilitating trade and fostering economic partnerships with our global partners. By providing clear guidelines, we aim to ensure a smooth transition and effective implementation of the Philippines–Korea Free Trade Agreement,” said Commissioner Rubio.
EO 80 and the corresponding CMO mark a significant step in the Philippines’ efforts to promote trade liberalization and regional economic integration. The BOC actively engages stakeholders to raise awareness and ensure compliance with the new guidelines.
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