EU to decide Dec 18 on PH bid for zero duty export
If approved, the inclusion of the Philippines in the EU's GSP+ would generate hundreds of thousands of jobs, mostly in rural areas, says the Department of Trade and Industry
MANILA, Philippines The Philippines is expected to clear the final hurdle of its bid for inclusion in the European Unions (EU) General System of Preferences Plus (GSP+), following the latest favorable endorsement of the European Parliament's Committee on International Trade (INTA).
The European Commission (EC) formally accepted the GSP+ application of the Philippines In February, and favorably endorsed it to the Council of Ministers of the European Union (The Council) and the European Parliament (EP).
The Council had earlier issued a formal notice of No Objection to the proposal. but the European Parliament requested for two months to review the recommendation. Thus, the European Parliament must decide on the proposal not later than December 18, 2014.
The countrys inclusion in the EUs GSP+ will allow exporters to enjoy zero tariff for 6,274 covered products.
If approved by the EU Parliament, the Philippines will be the only GSP+ beneficiary in the Association of Southeast Asian Nations (ASEAN). Currently, there are 13 countries granted by EU with GSP+ privileges.
A high-level Philippine delegation presented the countrys case to the INTA and the GSP Monitoring Group in a joint committee hearing at the EU Parliament in Strasbourg, France.
The delegation was led by Trade Undersecretary Adrian Cristobal Jr, and included Agriculture Undersecretary Segfredo Serrano, Labor Undersecretary Rebecca Chato, and officials from the Philippine missions in Brussels and Geneva.
Cristobal presented GSP+s importance to the country, citing the Philippines economic gains, good governance, and anti-corruption reforms. He added that GSP+ can create over 200,000 new jobs in the agriculture and manufacturing sectors in its early years of implementation.
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EU to decide Dec 18 on PH bid for zero duty export