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Potential Effects of RA 11203 (Philippine Rice Tariffication)

AFTER 24 YEARS since the Philippines was granted approval in 1995 by the World Trade Organization (WTO) to impose quantitative restriction (QR) on rice importation into the country, the government finally eliminated the quota system on rice importation through the passage of RA 11203. The law, which was recently signed, will be implemented on March 5, 2019. One of the key features of RA 11203 is the replacement of the rice importation quota system with tariffs. In the new law, the following tariffs apply: