The Investment Chapter (Chapter 7) establishes a requirement for contracting parties to authorize the investments of other contracting parties in accordance with their laws and regulations. It also expresses the intention of the parties to offer investors from other parties stable, non-discriminatory and transparent investment conditions and stresses the importance of investment promotion. In addition, the parties recognize that it is inappropriate to encourage investment by relaxing health, safety and environmental standards. Finally, the chapter provides for a review of investment issues within five years of the agreement`s entry into force, taking into account the treatment of non-party parties in other free trade agreements. Chapter 6 on Trade in Services closely follows the approach of the WTO`s General Agreement on Trade in Services (GATS). It covers trade in all service sectors under the four types of supply. Separate annexes to financial services (Annex XIII), telecommunications services (Annex XIV), the free movement of individuals (Annex XV), maritime transport services (Annex XVI) and energy-related services (Annex XVII) complete the chapter with additional disciplines specific to these sectors. The lists of contracting parties with specific obligations and derogations from the treatment of the most favoured nation (MPF) are listed in Schedules XI and XII respectively. These lists are subject to regular revision to further liberalize the exchange of services between the two parties. More information on EU-Philippine trade and investment negotiations, including EU-proposed texts and cycle reports Since December 2014, the Philippines has benefited from enhanced trade preferences with the EU under the EU Plus Generalised Preference System (GSP). The Special Incentive for Sustainable Development and Good Governance Scheme provides for the total elimination of tariffs for two-thirds of all product categories, with the aim of supporting sustainable development and good governance. The agreement contains provisions for remedial measures (Articles 2.12 to 2.15), namely subsidies and countervailing measures, anti-dumping measures, global safeguards and temporary safeguards.
The Philippines is one of ten members of the Association of South Asian Nations (ASEAN), the region`s fifth largest economy in terms of GDP and the EU`s largest trading partner in ASEAN. Countries as a group are the EU`s third largest trading partner outside Europe, after the United States and China. Learn more about Canada`s trade and investment agreements: types of contracts and the gradual development of trade and investment agreements. The ASEAN region is a dynamic market, with about 640 million consumers, and with more than 100 million inhabitants, the Philippines is DerA`s second largest market.