The Chamber of Automotive Manufacturers of the Philippines Inc. is asking the government to extend the country’s 30% "most-favored-nation" (MFN) tariff rate on completely built-up (CBU) vehicles up to 2010. The CBU duty is set to be reduced by 5% next year in line with a Philippine commitment to the World Trade Organization. The auto makers' group says the local industry, which has the smallest market among Southeast Asia’s top four assembler countries, requires up to six years to ...
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