ASEAN/CEPT SCHEME The Common Effective Preferential Tariff Scheme (CEPT) is a cooperative arrangement among ASEAN Member States that will reduce intra-regional tariffs and remove non tariff barriers over a 10-year period commencing 1 January 1993. The goal of the Scheme is to reduce tariffs on all manufactured goods to 0-5% by the year 2003. Asean Free Trade Area (AFTA) The objective of AFTA is to increase ASEAN's competitive edge as a production lane geared for the world market. A critical step in this direction is the liberalization of trade in the region through the elimination of intra-regional tariff and non-tariff barriers. This will have the effect of making ASEAN's manufacturing sectors more efficient and competitive in the global market. Asia Pacific Economic Cooperation (APEC) The Philippines is a member of APEC, which is an association of eighteen (18) economies that share the boundaries of the Pacific Ocean. APEC economies seek to reduce barriers to trade, ease the exchange of goods, services, resources and technical know-how, and strengthen economic and technical cooperation. Operational target of APEC re: Competition Policy adoption of an agreed code of minimum standards for competition policy; rejection of anti-dumping measures by APEC governments against imports from any other APEC participant. World Trade Organization (WTO) The Philippines is recognized as the legitimate forum for the initiation of international action including the settlement of international trade disputes. As a full member, the Philippines can avail of this forum wherein to discuss and resolve outstanding trade problems with other member countries. December, 1996 - the WTO Ministerial Conference in Singapore decided to establish a "Working Group on Competition and Trade", which increases the possibility of discussions regarding the convergence of competition policies at international organizations developing into a Competition Round.