The Bureau of Customs (BOC) has issued the guidelines that spell out the conditions for obtaining preferential tariff treatment for thousands of products under the newly implemented Regional Comprehensive Economic Partnership (RCEP) agreement. Considered the world's biggest trade pact, the RCEP is expected to lower import taxes on goods from 14 foreign markets. RCEP includes the Philippines, Indonesia, Thailand, Malaysia, Singapore, Brunei, Cambodia, Laos, Myanmar, Vietnam, China, Japan, South Korea, New Zealand and Australia.

https://business.inquirer.net/404086/boc-issues-rcep-tariff-rules

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