This was adopted by APEC to provide a framework for meeting the Bogor Goals through trade/investment liberalization, business facilitation, and sectoral activities, underpinned by policy dialogues and economic & technical cooperation.

Are APEC members legally bound to tariff commitments under Individual Action Plans (IAPs)?

What is the ASEAN motto?

Which among the following acts as the Depositary to the RCEP agreement?

This agreement involves many participants but is limited only to participants in a specific geographical area or region.

All are the founding fathers of ASEAN, except for:

It is where heads of government of each Member State meet to discuss and resolve regional issues, as well as to conduct other meetings with other countries outside of the region with the intention of promoting external relations.

It embodies universal principles of peaceful coexistence and friendly cooperation among States in Southeast Asia. It is a legally-binding code for inter-state relations in the region and beyond.

It serves as a foundation in achieving the ASEAN Economic Community by providing legal status and institutional framework for ASEAN.

It will transform ASEAN into a single market and production base, fully integrated into the global economy.

Established during the 4th ASEAN Summit in Singapore in 1992 to help liberalize trade through the elimination of tariffs and non-tariff barriers.

It is the main mechanism for the realization of AFTA.

Prevents species from becoming endangered or extinct because of international trade.

The topmost decision-making body of the WTO.

The Final Act officially establishing the WTO regime was signed on 15 April 1994, during the ministerial meeting at Marrakesh, Morocco, and hence is known as the Marrakesh Agreement.

It was set up in 1947 as a Negotiating Forum on the reduction of trade barriers. It is a Multilateral Treaty which provides rules for international trade.

APEC uses the term "______________" to refer to its members.

Which one among the following statements is false under the AISP scheme?

Which one among the following entered into force on 15 December 2008 and serves as the foundation in achieving the ASEAN Economic Community by providing legal status and institutional framework for ASEAN?

Which among the following Preferential Trade Agreements has a non-reciprocal system of tariff preference granting?

Which one among the following established the ASEAN on 08 August 1967 and is also known as the ASEAN Declaration?

Which among the following choices is not an objective of the ATIGA?

Under the GSP, which of the following is the term used to refer to the country that derives advantage from the preferential tariff system?

With its entry into force on 17 May 2010, this agreement superseded certain ASEAN agreements relating to trade in goods, such as the CEPT Agreement and selected protocols. What is this agreement?

The binding of tariffs in the WTO provides a stable and predictable basis for trade. What is "tariff binding"?. What is "tariff binding"?

Which of the following choices is not among the three pillars of key areas of APEC?

Which among the following are goods not covered by the WTO Agreement on Agriculture?

Except for one, the following are international engagements the Philippines have joined pursuant to the provisions of CMTA Sec. 1609 entitled "Promotion of Foreign Trade". Which one is the exception?

How does the WTO administer trade liberalization?

What is the term used to refer to countries granting non-reciprocal preferential tariffs to products exported by developing countries under the Generalized System of Preferences of UNCTAD?

Which one among the following choices is not a function of WTO?

Which of the following Preferential Trade Agreements is not considered a Bilateral Trade Agreement?

The ITA was initiated by the "Quad Countries" - the name used at the WTO to describe the four major industrialized-country markets. Which of the following is not part of the WTO "Quad" countries?

Which of the following is an Agreement resulted from the Doha Round of Trade Negotiations aimed to: "expedite the movement, release and clearance of goods, including goods in transit," facilitate "effective cooperation among Members on trade facilitation and customs compliance issues;" and enhance "assistance and support for capacity building" for developing and least developed country members?

Which of the following is also known as the 'Final Act' signed in April 1994 that concluded the Uruguay series of negotiations and officially established the WTO?

There are policy measures other than tariffs that can affect international trade in goods. These are called:

These are subsets of non-tariff measures and are considered as measures that have potentially trade-inhibiting effects.

Which statement about the ASEAN Secretary-General is false?

It shall be the supreme policy-making body of ASEAN.

A seller in Mandaue City, Cebu delivered 300 cases of sparkling wines to Trans-Asia shipping lines located in Cebu City. The buyer in Yokohama, Japan required his seller not to include the payment of ocean freight charges and marine insurance premium for these will be paid by him upon the arrival of the shipment in Japan. What INCOTERM is being described to?

A pharmaceutical company in Hanoi, Vietnam was offered by its seller in Naga City, Cebu for the supply of 1,000 boxes of antibiotics. The seller’s quotation included ocean freight charges and hauling of the goods from the destination port to the buyer’s warehouse in Danang, Vietnam. What INCOTERM is being offered by the seller?

A seller in China was required by his buyer in Manila to deliver 100 boxes of tin plates to AYA Freight Forwarder in Guangzhou, China. Furthermore, the buyer asks his seller to choose a term of sale that he will no longer be required to pay the air freight charges and the port-to-port insurance premium upon arrival of the shipment in Manila. What INCOTERM is being described to?

This refers to freight where the seller pays for the main transportation of the exported products before they leave the country of origin.

 "A", an importer, would want to purchase from "B", a foreign supplier, on the basis that everything will be done at the country of exportation by "B" including payment of ocean freight with Port of Manila (POM) as the port of discharge. "A", on the other hand,  shall secure the marine insurance and handle the import customs clearance up to delivery to his warehouse and the unloading from the carrying vessel. What is the appropriate Incoterm 2020 used?

A seller delivered 150 cartons of various electronic parts to the warehouse of Thai Airways located in Bangkok, Thailand with total ex-works value of $20,750.00.The seller paid $150.00 for export documentation and forwarder's fees. Air Freight charges from Bangkok to Mactan, Cebu and port to port insurance premium were likewise paid by the seller amounting to $1, 500.00 and $300.00, respectively. Which is the incoterm being referred to including its total amount?

A department store in Cebu imported 180 units of laptops from a seller in California, USA with a total ex-works value of $25,500.00. The importer instructed his international freight forwarder to arrange inland freight from the seller’s warehouse in New Jersey to an airline warehouse in New York. The forwarder billed the importer export forwarder’s fees of $250.00. Air freight charges to Mactan International Airport were, likewise, pre-paid by the forwarder amounting to $1,850.00. Which among the following is the incoterm used and its total amount if the importer procured domestic port-to-port insurance?

A logistics & forwarding company in Iloilo imported 10 units of closed delivery vans with total FCA value of $125,750.00 inclusive of origin inland freight of $750.00 and export forwarder’s fees of $650.00. Importer requested his seller in Taiwan to deliver said vans to the former’s warehouse in Bacolod ready for unloading from the arriving vehicle. Based on destination inland freight charges of $950.00 and pre-paid ocean freight charges of $13,800.00, Which among the following is the incoterm and total amount paid by the importer?

A department store in Olongapo City imported various men’s and ladies’ shoes from Hong Kong with a total ex-works value of $15,749.75. Seller included in invoice price pre-carriage charges of $120.00 and origin LCL charges of $75.00 and handled the loading of the bags on board the carrying vessel. Ocean freight up to Port of Subic was pre-paid by the seller amounting to $1,250.25. The importer secured domestic marine insurance coverage and paid a premium of ₱6,750.00. What is the total amount and incoterm indicated in the seller’s selling price?

A shipment of 2 X 20’ containers STC: Electronics from Dalian, China arrived at the MICP. Seller included in the invoice price the following: total ex-works value of the goods amounting to $20,450.00, inland freight charges of $150.00 for hauling the containers to the warehouse of Cosco Lines, and internal insurance of $120.00. The covering bill of lading shows ocean freight was pre-paid for $2,750.00 and the marine insurance premium was paid by the seller at $450.00. Determine the seller’s total selling price and incoterm indicated in the invoice.