MANILA -- The trade commission of the European Union (EU) will review during the last quarter of the year Generalized Scheme of Preferences Plus (GSP+) granted to the Philippines.
Department of Trade and Industry (DTI) Secretary Ramon Lopez told reporters that the review will focus on the benefits of granting the GSP+ to the Philippines.
He mentioned that the EU trade commission would like to see if the GSP+ granted to the Philippines is effective in helping the beneficiary country.
“They want to be informed, and which we will provide information on the benefits of the GSP to us,” he added, noting that the Philippines has success stories of farmers and fishermen who were able to export their products to the EU market duty free.
The trade chief said the review will start this month.
The assessment report is expected by January 2018 and will be forwarded to the EU Parliament.
Lopez noted that the report will determine if the EU will continue granting the GSP+ to the Philippines and will also support the country’s push for a free trade agreement (FTA) with the economic bloc.
He mentioned that the country’s utilization rate of the GSP+ has been improving since it was granted to the Philippines in 2014.
In 2015, the utilization rate of the EU GSP+ was at 68.3 percent. It increased to 70.87 percent in 2016, according to Lopez.
Lopez said the government has also assured the EU that the Philippines continues to adhere to the 27 international conventions and have been taking actions to preserve labor rights and human rights among others.
The EU requires all the GSP+ beneficiaries to subscribe and adhere to the 27 international conventions to continue benefitting from the program. (PNA)
