DTI conducts 116 info sessions on FTA benefits, opportunities

MANILA, Philippines - The Department of Trade and Industry (DTI) has conducted 116 information sessions covering free trade agreements (FTA) entered into by the country last year to increase awareness of firms on how to benefit from such deals.

DTI undersecretary Adrian Cristobal, Jr. said that through the department’s Doing Business in Free Trade Areas (DBFTA)  program, a total of 116 information sessions were conducted last year, higher than the 100-session goal target for 2012.

The sessions were attended by 11,169 participants representing 5,833 companies.

“The sessions provided both rural- and urban-based manufacturers and entrepreneurs guidelines and requirements to help them export world-standard goods, guide them in finding buyers for their products, and the benefits they can derive from the FTAs the government signed with its neighboring trade partners,” Cristobal said.

Launched in 2010, the program has become a venue for exporters to understand the requirements needed to avail of preferential tariffs in partner economies and get updates on current market intelligence.

It is among the activities being pursued by the DTI to promote the country’s export growth.

Currently, the Philippines has FTAs with Japan and other members of the Association of Southeast Asian Nations (ASEAN).

The country has also entered into FTAs through the ASEAN with China, Korea, India, Japan, Australia and New Zealand.

These agreements give manufacturers of Philippine goods access and preferential tariff rates into the markets of trading partners.