date:Sep 13, 2023
After the signing of a free trade agreement, the Filipino Department of Trade and Industry (DTI) said the tariffs on the countrys 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: