In observance of the Holy Week, the Philippine News Agency’s online news service will be off on March 29, Good Friday, and March 30, Black Saturday. Normal operations will resume on March 31, Easter Sunday.

— The Editors

P113-B PH exports enter EU market tariff-free in 2019

By Kris Crismundo

January 23, 2020, 8:07 pm

<p><strong>TARIFF-FREE</strong>. Delegation of the EU to the Philippines Chargé d’ Affaires Thomas Wiersing at the European Chamber of Commerce of the Philippines press conference at the Dusit Thani Hotel in Makati City on Thursday (Jan. 23, 2020).  Wiersing said some 2 billion euros (PHP113 billion) worth of Philippine products entered the European Union market tariff-free under the EU Generalised Scheme of Preference Plus (GSP+) last year. <em>(PNA Photo by Kris Crismundo)</em></p>

TARIFF-FREE. Delegation of the EU to the Philippines Chargé d’ Affaires Thomas Wiersing at the European Chamber of Commerce of the Philippines press conference at the Dusit Thani Hotel in Makati City on Thursday (Jan. 23, 2020).  Wiersing said some 2 billion euros (PHP113 billion) worth of Philippine products entered the European Union market tariff-free under the EU Generalised Scheme of Preference Plus (GSP+) last year. (PNA Photo by Kris Crismundo)

MANILA -- Some 2 billion euros (PHP113 billion) worth of Philippine products entered the European Union (EU) market tariff-free under the EU Generalised Scheme of Preference Plus (GSP+) last year, a representative from the EU said Thursday.

In a press conference in Makati City, Delegation of the EU to the Philippines Chargé d’ Affaires Thomas Wiersing said it is estimated that 25 percent of the total Philippine exports to the EU in 2019 utilized the GSP+.

Most of the products that entered the EU market at zero tariffs were agricultural exports, he said.

The EU GSP+ allows 6,274 goods from the Philippines to enter the EU market tariff-free.

“It is, therefore, hoped that the GSP+ utilization rate of Philippines further increase in 2020. It is also hoped that with the implementation of the REX (Registered Exporters) system of self-certification by the EU beginning January 2020, Filipino exporters will have faster processing time for their documentary requirements specific to GSP+ beneficiary products,” Wiersing said.

EU Commission’s biennial GSP+ report will be published soon. This includes the progress of the Philippines in implementing the 27 international conventions relating to human rights, labor rights, environment, and good governance from 2018 to 2019.

Wiersing further said two-way trade between the Philippines and the EU in the first 11 months of 2019 increased by 5 percent to 15.1 billion euros from 14.4 billion euros in the same period in 2018.

Philippine exports to EU from January to November 2019 went up by 2 percent to 7.5 billion euros, while imports from EU grew faster at 8 percent amounting to 7.5 billion euros also.

“The figure shows that for the first time in many years, the EU has a marginal trade surplus with the Philippines of around 89 million euros, coming from a trade deficit of around 321 million euros,” Wiersing said.

He added that increasing imports from the EU is expected this year following the delivery of 32 Airbus A321 Neo orders from Cebu Pacific.

“Overall, EU-Filipino trade is relatively smooth,” Wiersing said. (PNA)

 

Comments