MANILA -- The Department of Trade and Industry (DTI) wants a meeting with British International Trade Secretary Liam Fox to provide clarity to the direction of trade between the Philippines and United Kingdom once it formally exits the European Union (EU) next year.
Trade and industry Secretary Ramon Lopez told reporters Monday that he met with British Ambassador Daniel Pruce, wherein the future of trade and investment between the Philippines and the UK were discussed, and a possible meeting with Fox was also brought up.
Last week, British Prime Minister Theresa May said Brexit -- or UK exiting from the EU bloc -- will be official by March 29, 2019.
Today, some 6,274 products from the Philippines can enter the EU market, including UK, with zero-tariff due to EU Generalized Scheme of Preferences Plus (GSP+). Philippine exporters have reportedly expressed fears, however, that they may lose those benefits in the UK once it leaves the EU.
Meanwhile, Lopez and Pruce also discussed the visit here of Mark Field, MP of London and Westminster next month.
The two officials also discussed the holding of a trade and investments roadshow in September.
Lopez reportedly updated the British envoy about the Duterte administration's direction towards liberalizing the economy “to mobilize competition and increase opportunities for micro, small, and medium enterprises”. (PNA)
