Liberalized Cabotage Law (RA 10668): Key Shipping Reform

President Benigno S. Aquino III signed the Foreign Ships Co-Loading Act to further boost the country’s trade and fair competition.

To be known as Republic Act No. 10668, or the liberalized Cabotage Law, the Act will allow foreign-flagged vessels to call at Philippine ports and enable importers and exporters to load cargoes in foreign ships going in and out of the country.

Previously, only domestic vessels were permitted to engage in coastwise trading aimed at promoting the development of the local shipping industry that but did not happen. Permitting foreign vessels to access other ports in the country will stimulate the economic activity thus will make the export and import of products faster and cheaper and will also help free up space in Manila port.

To protect the country against smuggling or dumping of goods, the government will strengthen the Bureau of Customs, the Coast Guard and the Philippine Ports Authority.

Source: http://opinion.inquirer.net/87098/key-shipping-reform

Key Contact

MEDIA RELATIONS

Communications

Tel: (632) 526.8888 local 9317

E-mail: updates@magsaysay.com.ph