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Questions and Answers
What is the main purpose of Republic Act No. 11203?
What is the main purpose of Republic Act No. 11203?
- To eliminate all forms of agricultural trading
- To introduce tariff-based protection for local agricultural producers (correct)
- To impose stricter regulations on rice importation
- To maintain the existing quantitative restrictions on rice
Which category of products is defined under the terms of the Republic Act No. 11203?
Which category of products is defined under the terms of the Republic Act No. 11203?
- All food products including processed foods
- Only rice and its derivatives
- Specific commodities under Chapters 1-24 of the HS Coding System (correct)
- Non-agricultural products relevant to trade
What policy does the state adopt according to Section 2 of Republic Act No. 11203?
What policy does the state adopt according to Section 2 of Republic Act No. 11203?
- Tariffs instead of non-tariff import restrictions (correct)
- Seasonal import quotas for rice
- Mandatory price controls for local agricultural products
- Complete deregulation of agricultural imports
What is the intended outcome for the agricultural sector as stated in Republic Act No. 11203?
What is the intended outcome for the agricultural sector as stated in Republic Act No. 11203?
What change does Republic Act No. 11203 make to the previous legislation R.A. No. 8178?
What change does Republic Act No. 11203 make to the previous legislation R.A. No. 8178?
What does the term 'ATIGA Rate' refer to?
What does the term 'ATIGA Rate' refer to?
Which of the following accurately describes the term 'Out-Quota Tariff Rate'?
Which of the following accurately describes the term 'Out-Quota Tariff Rate'?
What does the phrase 'Most Favoured Nation (MFN) Rate' refer to?
What does the phrase 'Most Favoured Nation (MFN) Rate' refer to?
What is the purpose of 'Tariffication' as defined in the content?
What is the purpose of 'Tariffication' as defined in the content?
How is 'Buffer Stock' defined in the content?
How is 'Buffer Stock' defined in the content?
What defines 'Minimum Access Volume' in the agricultural sector?
What defines 'Minimum Access Volume' in the agricultural sector?
What is the role of 'Sanitary and Phytosanitary Import Clearance' for rice?
What is the role of 'Sanitary and Phytosanitary Import Clearance' for rice?
What is defined as 'Rice Shortage'?
What is defined as 'Rice Shortage'?
What does 'Tariff Equivalent' signify in the context of trade?
What does 'Tariff Equivalent' signify in the context of trade?
What is the primary function of a 'Tariff' in international trade?
What is the primary function of a 'Tariff' in international trade?
Study Notes
Overview of Republic Act No. 11203
- Enacted by the Philippine Congress to liberalize rice trading through lifting quantitative import restrictions.
- Aimed to enhance food security and ensure a globally competitive agricultural sector.
Policy Framework
- The State adopts a tariff system instead of non-tariff import restrictions.
- Focused on protecting local agricultural producers while promoting efficiency in the sector.
Key Definitions
- Agricultural Products: Includes commodities under Chapters 1-24 of the Harmonized Commodity Description and Coding System.
- ATIGA Rate: Tariff rate commitments for goods imported from ASEAN member states.
- Bound Rate: Maximum tariffs committed to the WTO under the Uruguay Round Final Act.
- Buffer Stock: Optimal rice inventory maintained for emergencies and disaster relief.
- In-Quota Tariff Rate: Lower tariff rates for minimum access volumes as committed to the WTO.
- Out-Quota Tariff Rate: Higher customs duty for imports exceeding minimum access volume.
- Minimum Access Volume (MAV): Volume eligible for lower tariffs under WTO commitments.
- Most Favoured Nation (MFN) Rate: Tariff rates for all imports as specified in the Customs Modernization and Tariff Act.
- Quantitative Import Restrictions: Non-tariff limitations on imported agricultural products.
- Rice Shortage: Occurs when supply does not meet demand for rice.
- Tariff: Tax on imported goods aimed at generating government revenue and protecting local industries.
- Tariff Equivalent: Rate of tariff reflecting protection comparable to quantitative import restrictions.
- Tariffication: Process of replacing quantitative restrictions with tariffs.
Legislative Amendments
- Amendments expand definitions and policies related to rice importation and trading.
- Repeals previous laws that prescribed quantitative import restrictions on agricultural products.
Implementation Requirements
- Importers of rice must obtain a Sanitary and Phytosanitary Import Clearance from the Bureau of Plant Industry.
- Emphasis on ensuring food safety through stringent import requirements.
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Description
This quiz explores Republic Act No. 11203, enacted by the Philippine Congress to liberalize rice trading. It focuses on the policy framework, key definitions, and impacts on agricultural security and competitiveness. Test your knowledge on this significant agricultural reform act.
