PH seeks France's support for EU-GSP+ status renewal
Published Jun 23, 2023 02:38 pm
The Philippines has asked France’s support for the renewal of the country's status in the EU Generalized System of Preferences (GSP) Plus where the country’s roughly 6,000 tariiff lines (export items) enjoy zero duty privilege upon entry in EU markets.
Trade and Industry Secretary Alfredo E. Pascual sought French Foreign Trade Minister Olivier Becht’s endorsement during their recent 10th Joint Economic Cooperation meeting in Paris. France is the Philippines’ 3rd largest GSP+ market, 35 percent of Philippine exports to France, including exporters of spectacle lenses, crude coconut oil, vacuum cleaners, and tuna, benefit from the GSP+ scheme. The Philippines GSP+ exports to France amounted to EUR309 million in 2022. The Philippines will renew its special incentive arrangement on the EU GSP+ for competitive advantage. The EU-GSP+ allows duty-free exports (under 6,000 tariff lines) to the European Union. This enables cheaper entry of Philippine goods into the EU market. The GSP+ Agreement will be renewed when it expires by the end of 2023. For the Philippines to continue with the incentives of the EU GSP+, the country must meet specific requirements. To comply with the renewal, the Philippines must respect and uphold the rights of its workers. The labor issue has been seen as a major hurdle for the Philippines to renew its GSP+ status, which has helped local companies compete in the EU market. Pascual also underlined the timely resumption of the PH-EU free trade agreement (FTA). “The Philippine-EU FTA will continue the inroads provided by the EU-GSP+, including for micro, small, and medium enterprises. This FTA would maintain the preferences under the GSP+ and expand the scope of market access for goods, services, and investments, as well as include other fields that will facilitate trade between our two countries,” he said. In addition, Pascual emphasized that the Indo-Pacific region remains the center of all global engagements, especially on the economic front. “EU’s presence in the region is a must, and the Philippines can serve as a reliable country that shares the same values and principles that the EU stands for,” he said.
PHILIPPINES SEEKING FRANCE'S SUPPORT FOR EU-GSP PLUS RENEWAL --
DTI Secretary Alfredo E. Pascual and French Foreign Trade Minister Olivier Becht during the 10th PH-France Joint Economic Cooperation.
Trade and Industry Secretary Alfredo E. Pascual sought French Foreign Trade Minister Olivier Becht’s endorsement during their recent 10th Joint Economic Cooperation meeting in Paris. France is the Philippines’ 3rd largest GSP+ market, 35 percent of Philippine exports to France, including exporters of spectacle lenses, crude coconut oil, vacuum cleaners, and tuna, benefit from the GSP+ scheme. The Philippines GSP+ exports to France amounted to EUR309 million in 2022. The Philippines will renew its special incentive arrangement on the EU GSP+ for competitive advantage. The EU-GSP+ allows duty-free exports (under 6,000 tariff lines) to the European Union. This enables cheaper entry of Philippine goods into the EU market. The GSP+ Agreement will be renewed when it expires by the end of 2023. For the Philippines to continue with the incentives of the EU GSP+, the country must meet specific requirements. To comply with the renewal, the Philippines must respect and uphold the rights of its workers. The labor issue has been seen as a major hurdle for the Philippines to renew its GSP+ status, which has helped local companies compete in the EU market. Pascual also underlined the timely resumption of the PH-EU free trade agreement (FTA). “The Philippine-EU FTA will continue the inroads provided by the EU-GSP+, including for micro, small, and medium enterprises. This FTA would maintain the preferences under the GSP+ and expand the scope of market access for goods, services, and investments, as well as include other fields that will facilitate trade between our two countries,” he said. In addition, Pascual emphasized that the Indo-Pacific region remains the center of all global engagements, especially on the economic front. “EU’s presence in the region is a must, and the Philippines can serve as a reliable country that shares the same values and principles that the EU stands for,” he said.