South Korea to delete tariffs on bananas and pineapples from the Philippines

After the signing of a free trade agreement, the Filipino Department of Trade and Industry (DTI) said the tariffs on the country’s banana and processed pineapple exports to South Korea would gradually be eliminated. Currently, Philippine bananas exported to South Korea are slapped with a 30 percent tariff.

Trade Undersecretary and Board of Investments (BOI) managing head Ceferino Rodolfo said the FTA aims to correct tariff disadvantages of major Philippine exports, particularly fruits, to Korea: “We were able to achieve this objective to correct the tariff disadvantage because we were able to get from Korea a commitment or concession for them to remove tariffs on Philippine bananas in five years.”

“From entry into force of the agreement, it will go down in five equal installments until it becomes zero,” Rodolfo said.


Publication date:

Receive the daily newsletter in your email for free | Click here

Other news in this sector:

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

You are using software which is blocking our advertisements (adblocker).

As we provide the news for free, we are relying on revenues from our banners. So please disable your adblocker and reload the page to continue using this site.

Click here for a guide on disabling your adblocker.