International Trade Organizations & Agreements

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which body is the highest authority within the WCO, responsible for customs matters?

  • Policy Commission
  • Finance Committee
  • Ministerial Conference
  • WCO Council (correct)

Which of the following best describes the primary focus of APEC's three pillars?

  • Maintaining peace and security within member economies
  • Promoting business facilitation and regulatory reform
  • Providing training and cooperation for capacity building (correct)
  • Achieving trade and investment liberalization

Which country was NOT an original signatory of the ASEAN Free Trade Area (AFTA)?

  • Brunei
  • Viet Nam (correct)
  • Indonesia
  • Thailand

The Common Effective Preferential Tariff (CEPT) Scheme generally covers all products EXCEPT:

<p>It covers all products (B)</p> Signup and view all the answers

In what city was the ASEAN Framework Agreement for the Integration of Priority Sectors signed?

<p>Bangkok, Thailand (C)</p> Signup and view all the answers

Which organization is the sole international body overseeing the rules of international trade, including goods, services, and intellectual property rights (IPRs)?

<p>WTO (D)</p> Signup and view all the answers

Which of the following countries was NOT among the initiators of the Information Technology Agreement (ITA)?

<p>Japan (C)</p> Signup and view all the answers

What is the name of the latest trade-negotiation Round of the WTO aimed at major reform of the international trading system?

<p>The Doha Development Agenda (C)</p> Signup and view all the answers

Which working body of the WCO administers the International Convention on the Harmonized System?

<p>Harmonized System Committee (B)</p> Signup and view all the answers

Which of the following is NOT one of the key objectives of the e-ASEAN Framework Agreement?

<p>Maintaining peace and security in ASEAN region (C)</p> Signup and view all the answers

An ASEAN Member State requesting a waiver of the Protocol for Rice and Sugar must submit a written submission to the AFTA Council at least how long before the waiver takes effect?

<p>90 days prior to the date the waiver is to take effect (B)</p> Signup and view all the answers

Which of the following represents the human dimension of ASEAN Cooperation, focusing on improving the quality of life?

<p>ASEAN Socio-cultural Community (D)</p> Signup and view all the answers

What type of trade agreements involve many participants but are limited to those within a specific geographical area?

<p>Regional Trade Agreements (A)</p> Signup and view all the answers

Which of the following provides rules for international trade and can act as an international court for trade disputes?

<p>WTO (D)</p> Signup and view all the answers

Which body oversees procedures for settling disputes between members and analyzes members' trade policies within the WTO?

<p>General Council (B)</p> Signup and view all the answers

What does the 'Special Treatment' secured by the Philippines under agricultural trade agreements primarily involve?

<p>Imposing quantitative restrictions on rice imports (A)</p> Signup and view all the answers

Based on the principles of determining the country of origin, which statement is correct regarding the country of export?

<p>The country of export is where the allegedly dumped product was wholly obtained, or where the last substantial transformation took place. (C)</p> Signup and view all the answers

What document embodies the Implementing Rules and Regulations of RA 8752, taking effect on July 10, 2000?

<p>Tariff Commission (TC) Order No. 00-02 (B)</p> Signup and view all the answers

Who conducts a formal investigation to determine if increased importation is causing serious injury to the domestic industry?

<p>Tariff Commission (B)</p> Signup and view all the answers

What is the maximum period for implementing a provisional countervailing measure, including potential extensions?

<p>Six (6) months (D)</p> Signup and view all the answers

Flashcards

WCO Council

Highest body of the WCO for Customs Directors-General.

Economic and Technical Cooperation

APEC pillar focused on building capacities for global trade advantage.

WTO

International organization overseeing international trade rules, including goods, services, and IPRs.

The Doha Development Agenda

Aims to reform the international trading system with lower trade barriers and revised rules.

Signup and view all the flashcards

Harmonized System Committee

Administers the Harmonized System to ensure it keeps pace with technical progress.

Signup and view all the flashcards

The Early Voluntary Sectoral Liberalization Scheme

Identifies industries for progressive reduction of tariffs and non-tariff measures.

Signup and view all the flashcards

Country of export

Occurs where the allegedly dumped product was wholly obtained or underwent substantial transformation.

Signup and view all the flashcards

e-ASEAN Framework Agreement

Enables public/private cooperation, trade liberalization, and ICT investments in ASEAN.

Signup and view all the flashcards

GATT

Forum on trade barrier reduction, provides rules for international trade and dispute resolution.

Signup and view all the flashcards

Agreement on Agriculture

It embodies multilateral trading rules governing agriculture.

Signup and view all the flashcards

Normal Value Exceptions

The domestic producer's selling price isn't usable as basis for normal value.

Signup and view all the flashcards

Secretary of Finance

Motu proprio initiate investigation of increased imports that causes injury.

Signup and view all the flashcards

Price Undercutting

Occurs when a domestic producer lowers prices so it is competitive for allegedly dumped product.

Signup and view all the flashcards

Tariff Commission logo

Consist of 4 figures bordered by a red line with six circles or dots.

Signup and view all the flashcards

TC Form 1

It may be submitted to the Tariff Commission for the application for Advance Ruling on Tariff Classification.

Signup and view all the flashcards

The Tariff Commission logo

It is composed of 4 figures bordered by a red line with six circles or dots:

Signup and view all the flashcards

Price Undertaking

Voluntary by foreign exporter to raise prices/cease subsidized exports to the Philippines.

Signup and view all the flashcards

Section 1608

The President may enter into trade agreements using this legal basis.

Signup and view all the flashcards

Like products

Domestic products alike in all respects to the comparable imported product.

Signup and view all the flashcards

Applicant

A natural or juridical person authorized in writing to process disputes.

Signup and view all the flashcards

Study Notes

  • The WCO's highest body is composed of the Directors-General of Customs from all members.
  • The APEC pillar focused on training and cooperation to build capacities is Economic and Technical Cooperation.
  • Thailand was not an original signatory of AFTA.
  • The Common Effective Preferential Tariff (CEPT) Scheme excludes unprocessed non-agricultural products.
  • The ASEAN Framework Agreement for the Integration of Priority Sectors was signed in Cebu, Philippines.
  • The WTO is the sole international organization overseeing international trade rules, encompassing trade in goods, services, and IPRs.
  • The Information Technology Agreement (ITA) was not initiated by Korea.
  • The Doha Development Agenda aims to reform the international trading system by lowering trade barriers and revising trade rules.
  • The Harmonized System Committee is a WCO working body responsible for administering the International Convention on the Harmonized System and resolving classification problems.
  • APEC's pillars include Trade and Investment Liberalization, Business Facilitation, and Economic and Technical Cooperation.
  • Laos is not a member of APEC.
  • The Early Voluntary Sectoral Liberalization Scheme identifies industries for progressive tariff and non-tariff measure reduction.
  • Cambodia is not a founding country of ASEAN.
  • In determining the country of origin, the country of export and the country of origin may be the same, but not in all instances.
  • Joint Administrative Order No. 01, series of 2000, embodies the Implementing Rules and Regulations of RA 8752, effective July 10, 2000.
  • The e-ASEAN Framework Agreement aims to enhance competitiveness, promote cooperation, and liberalize trade in ICT products, services, and investments in ASEAN.
  • An ASEAN Member State must submit a written request to the AFTA Council 90 days prior to a waiver for the Protocol for Rice and Sugar taking effect.
  • The ASEAN Socio-cultural Community represents the human dimension of ASEAN Cooperation, aiming to improve the quality of life.
  • Regional Trade Agreements involve many participants but are limited to a specific geographical area or region.
  • GATT was set up in 1947 as a negotiating forum to reduce trade barriers and provides rules for international trade.
  • The General Council acts on behalf of the WTO Ministerial Conference and meets as the Dispute Settlement Body and the Trade Policy Review Body.
  • The Agreement on Agriculture embodies the multilateral trading rules governing agriculture and allowed the Philippines to secure a "Special Treatment."
  • The Tariff Commission conducts investigations upon a positive preliminary determination of injury to the domestic industry.
  • The President may enter into trade agreements for purposes such as assisting in the economic development of the country, increasing the purchasing power of the Philippine peso, maintaining better relations between the Philippines and other countries, and in the interest of general welfare and national security.
  • A provisional countervailing measure can be implemented within four months, extendable to six. A definitive countervailing duty lasts for five years from the date of imposition.
  • Requirements for the Application for Advance Ruling on Tariff Classification include a letter-endorsement/ ruling/ assessment from BOC, a technical catalogue/brochure, a manufacturing process, and a copy of the BOC Single Administrative Document (SAD).
  • The Tariff Commission was created in June 1953 by virtue of R.A. 1956.
  • Provision of subsidized inputs, exemption from direct taxes, remission/drawback of import charges, and exemption from direct taxes are considered prohibited subsidies.
  • The Secretary of Finance may initiate a preliminary safeguard investigation if there is evidence of material injury to the domestic industry, even without a petition.
  • The application for advance ruling must be filed at least ninety (90) days before the importation or exportation.
  • The Tariff Commission conducts the formal investigation and makes the final determination for purposes of the imposition of the definitive anti-dumping duty on agricultural products.
  • Support by domestic producers must collectively constitute more than 25% of the total production of the like product.
  • After a prima facie case is established in an anti-dumping investigation, DTI-BIS or DA has 30 woking days after receipt of the answer to the questionnaire to make its preliminary determination.
  • Factors in determining material injury to the domestic industry include actual or potential decline in output, sales, market share, profits, productivity, and effects on domestic prices, cash flow, inventories, employment, and wages. Increased burden on government support programs is not a factor.
  • Normal value is the comparable price in the ordinary course of trade for the identical product when destined for consumption in the country of export or origin.
  • The foreign producer's domestic selling price cannot be used as a basis for normal value if there are no domestic sales of like product, sales are not in the ordinary course of trade, or the volume of sales in the domestic markets is low.
  • Green Subsidies are permitted as they are of a general nature, applied across-the-board to all industries.
  • The following are examples of prohibited subsidies: Provision of subsidized inputs for use in the production of exported goods, export guarantee programs at premium rates inadequate to cover the long term costs of the program.
  • The Department of Trade and Industry (DTI) receives the application and determines whether a prima facie case exists to warrant initiation of investigation and conducts the preliminary investigation to determine whether provisional measures (dumping bond) may be imposed on industrial goods.
  • Information required when applying for the levy of anti-dumping duty Volume of the domestic production of the producers making the application, names of the exporting countries, each known exporter or foreign producer, and a list of the importers of the products.
  • In its formal countervailing investigation into agricultural goods, the Commission notifies all interested parties, the Commission has 120 days from receipt of the advice from Secretary of DA to complete its investigation and submit its Report of Findings and recommendations to NEDA.
  • Price undercutting in which the domestic producer reduces its selling price in order to compete with the allegedly dumped product.
  • A "like product" is identical, i.e., alike in all respects to the imported product.
  • Price depression and price suppression are all instances of injury which the domestic industry incurs. Causal link is less relevant.
  • An Interim Review is conducted by the Commission to determine the need to offset subsidization, taking into consideration the need to protect the existing domestic industry against dumping.
  • Price undertaking is effective for 3 years unless the foreign exporter proves that the undertaking is no longer necessary.
  • Provisional Countervailing Measure (or preferably a security by cash deposit or bond) is applied only after the DTI-BIS or DA has made a preliminary affirmative determination no sooner than 60 days from the initiation of the case.
  • A new exporter is an exporter who did not export the allegedly dumped product during the investigation period.
  • Prohibited subsidies or "red" subsidies include export subsidies (those contingent on export performance) and subsidies contingent on the use of domestic over imported goods.
  • The power delegated to the President under Section 1608 maybe terminated by Congress when in not session through a joint resolution.
  • Tariff Classification Dispute is a decree on a case when a declared tariff classification of goods is in dispute because the BOC has a different classification or the tariff classification for the subject goods is considered difficult or highly technical by the BOC.
  • Factors in determining material injury to the domestic industry caused by dumping include decline in output, sales, market share, profits, productivity, return on investments, utilization of capacity, effects on domestic prices, and effects on cash flow, inventories, employment, wages, growth, ability to raise capital, investments etc. Increased burden on government support programs has less importance.
  • Employees of the Commission are appointed by the Chairperson in accordance with the Civil Service Law, with the exception of the Member Commissioner.
  • A definitive safeguard measure may include an increase in duty on the imported product or a modification or imposition of a tariff-rate quota (MAV) on the product.
  • The grounds for a Motion for Reconsideration on Advance Ruling on Tariff Classification include mistake of fact, change in material facts/circumstances, and newly discovered evidence or information.
  • An order issued by the President pursuant to the provisions of Section 1608 shall take effect thirty (30) days after promulgation.
  • The order of the President to impose additional duty on all imports not exceeding ten percent (10%) ad valorem shall take effect immediately.
  • An appeal for the denial of the motion for reconsideration on Advance Ruling on Tariff Classifications shall be filed before the Court of Tax of Appeals.
  • New exporter refers to an exporter who didn't export allegedly dumped goods during the investigation.
  • Section 1608 (Flexible Clause) of Republic Act (R.A.) No. 10863, known as the CMTA, provides the legal basis by which the President may change the level and form of import duties but not impose import quota or ban imports.
  • Joint Administrative Order No. 01, series of 2000 embodies the Implementing Rules and Regulations of RA 8752 which took effect on July 10, 2000 embodied in Joint Administrative Order No. 01, series of 2000.
  • The Notice of public consultation for purposes of investigation under Section 1609 of the CMTA shall include the all of the following: a concise summary of the petition, a description of the articles involved, a description of the trade/commodity classification, and the AHTN code of the commodity.
  • For the purposes of Section 1609 investigation, TC investigates and submits its Report of Findings and recommendations to NEDA within sixty (60) days from receipt of a properly documented petition.
  • An NEDA Board decision must be made within twenty (20) working days from issuance of a warrant. -An Accelerated administrative review is carried out to determine individual margins of dumping margins for new exporters or new shippers that did not export for a product during the period investigation. -The Technical Committee on Customs Valuation are responsible for matters pertaining to customs valuation; and prepares opinions commentaries, explanatory notes, case studies, and surveys.
  • All of the following are functions of the Tariff Commission: Conduct public consultations and public hearings, provides the President and Congress with analysis, information and technical support, Study impact of tariff policies, analyze the nature and composition and classification.
  • To request for withdrawal, modifications, and/or suspension of tariff concessions shall file TC Form 3.
  • Under RA 8800 shall first establish that the application of safeguard measures is in the public interest with the Tariff Commission.
  • Refers to the domestic producer reducing its selling price to complete is classified as Price undercutting.
  • Section 1608 is from which the President may enter into trade agreement and modify import duties.
  • A WTO agreement to eliminate tariffs on information technology products by the year 2000 is classified as Information and Technology Agreement (ITA).
  • The Tariff Commission logo is composed of figures bordered by a red line with six circles or dots.
  • The top bodies of the WTO are the Ministerial and Finance Commiitee.
  • TC Form 2 should be submitted to the Tariff Commission in the application for Advance Ruling on Tariff Classification.
  • Applicant in writing may within 10 days file for reconsideration if false information are presented and only one motion is allowed.
  • Once a prima facie case has been established the DTI or BIS has 120 working days to make a determination.
  • The ASEAN Trade in Goods Agreement (ATIGA) is a consolidations in which all members and partners are on trade elements.
  • Under section 1608 the NEDA, shall investigate and give public hearings to parties to present their evidence.
  • The following should not be included in the track to the Early Voluntary Sectoral Liberalization (EVSL) Scheme with Business Facilitation.
  • The authority of the Tariff Commission can deputize or delegate to appropriate government agency its function for rendering rulings.
  • Upon receipt of a petition the Technical Team must release it's "issue paper" and contain the findings for all elements except the causal link, increased imports and all previous findings.
  • Subsidies are general with all members is a Green Subsidiaries which can be applied across the board.
  • ASEAN integrations applies the A-ASEAN Scheme to accelerate the economies of members.
  • The natural or juridial person authoring a request is to process a tariff dispute is known as the Applicant.
  • The important factor for Non Agricultural Market Access is Tariff Binding.
  • The Commission many require members to submit a statement of the imported amounts, but can't require an external Exporter.
  • Furina de Fontaine acting as the suppliers does not allowed her to apply for the Advance Ruling.
  • The President executes the approval of petition under tariff agreements.
  • The Commissioners has 20 days to acquire imported goods.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Quiz Team

Related Documents

More Like This

Use Quizgecko on...
Browser
Open
Browser
Browser