MANILA, Philippines - The Philippine Chamber of Commerce and Industry (PCCI) and the Delegation of the European Union (EU) to the Philippines yesterday urged the government to immediately adopt trade facilitation measures to enable the Philippines to participate in advanced economic partnerships.
During a plenary session on the role of trade facilitation and customs modernization on the utilization of trade agreements at the 40th Philippine Business Conference and Expo yesterday, leaders of Philippine businesses and the EU Delegation said the upcoming full integration of Southeast Asian countries into a single market economy next year prepares the Philippines for participation in advanced trade agreements such as the Trans-Pacific Partnership Agreement (TPP) as well as free trade agreements with the EU.
Hence, the Philippines needs to adopt various trade facilitation measures as part of its own domestic initiative and obligation to international agreements it is a signatory of.
The PCCI urges the adoption of various measures, including the immediate passage of the Customs Modernization and Tariff Act in compliance to the Revised Kyoto Convention and the World Trade Organization Trade Facilitation Agreement.
The chamber also urges the government to implement the National and ASEAN single window in compliance to the ASEAN agreements on trade facilitation.
Trade facilitation means simplifying and streamlining international import and export procedures and related documentation. It also entails the modernization of trade and customs procedures, cutting of red tape, training customs officials and improvement of customs technologies.
EU Ambassador to the Philippine Guy Ledoux said trade facilitation would further grow trade between the Philippines and the EU with the impending inclusion of the country in the EU’s Generalized System of Preferences Plus (GSP+), a trade scheme that would allow more goods to enter the EU at zero duty.
The Trade department has expressed confidence that the European Parliament (EP) would approve the country’s application into the EU GSP+ before the year ends.
Ledoux noted that in the fist six months of the year, Philippines-EU trade rose 21 percent year-on-year to $7 billion. This trade volume is composed mostly of value-added products.
EU’s imports from the Philippines include electronics, appliances, optical and photographic instruments, and food products.
“We can bring our relationship to the next level. The Philippines’ application to GSP+ — if approved by the EP — will play a big role in the strengthening of this partnership.