Philippine exports to the EU climbed from 5.3 billion euros in 2014 under the standard GSP to 7.77 billion euros in 2021. The Philippines also recorded its highest utilization rate at 76 percent of total eligible exports, including tuna --- READ:
GSP+ is an incentive arrangement that grants the Philippines zero tariffs on 6,274 products or 66 percent of all EU tariff lines. This preferential trade is maintained, while the country upholds its commitments under the GSP+ select 27 international conventions on human rights, labor, good governance and environment.
Manifesting willingness to work closely with the EU, Pascual underscored EU-GSP+ support in improving bilateral relations and socio-economic development in the Philippines and the policies and programs of the Marcos administration that reaffirms the country’s compliance with international conventions.
He said that since the Philippines’ successful application to the GSP+ in 2014, the country had benefited from increased market access to the EU. The GSP+ also benefited EU companies, as they invested in manufacturing facilities in the Philippines to take advantage of the country’s extensive and expanding domestic market and its network of free trade agreements, which includes those with ASEAN. They also gained from relatively lower cost of raw materials.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Agri trade deficit widens 15% in second quarter - BusinessWorld OnlineTHE agricultural trade deficit widened 15% year on year in the second quarter to $2.72 billion, according to preliminary data issued by the Philippine Statistics Authority (PSA).
Baca lebih lajut »
US suggests EU consider using export controls to target China - BusinessMirrorThe US has raised with European allies the idea of drawing upon lessons from the export control regime they’re using to punish Russia to target China, according to people familiar with the matter. The conversations came up as European Union and US officials are negotiating the agenda for their next high-level trade forum in early
Baca lebih lajut »
PH reiterates desire for continued EU-GSP+ statusTrade and Industry Secretary Alfredo E. Pascual delivered a strong message of commitment to the EU-PH partnership in trade and investment before the EU Parliament Committee on International Trade as it seeks for the Philippines continued EU-GSP+ status.
Baca lebih lajut »
Automatic price freeze on basic goods in calamity-hit areas – DTIAutomatic price freeze on basic necessities and prime commodities (BNPCs) took effect in areas declared under state of calamity following the onslaught of typhoon Paeng, the Department of Trade and Industry said.
Baca lebih lajut »