DTI sets infodrive session on PHL's free trade deals

CEBU, Philippines - In its bid to further encourage the business sector, specifically those dealing with foreign trade, the Department of Trade and Industry (DTI) has announced another round of information session to intensify awareness on doing business in free trade areas.

DTI Cebu Provincial Office (CPO) director Nelia F. Navarro said that the event dubbed “Doing Business in Free Trade Areas---The Market Approach” will be held on October 26, 2011 starting 1:00pm to 5:00pm at Cebu Parklane International Hotel.

Navarro said the half day event is part of DTI’s national awareness campaign to improve access of Philippine products and services to international markets, as well as improve availment of trade benefits from the gradual removal or reduction of barriers to trade and investments—thus, creating a freer flow of goods, services and people within these free trade areas.

The information session on Oct. 26 will cover discussions on market opportunities with focus on products with zero or reduced tariffs under existing free trade agreements as well as the procedures on how to access or apply for these benefits.

Businesses that import are also advised to attend this Info Session and consider the possible benefits of FTAs as reduced tariffs under an FTA can result in better margins on inputs for manufacturers or those importing for the retail market.

The October 26 Info Drive will discuss salient parts of the Philippines-Japan Economic Partnership Agreement (PJEPA), ASEAN Free Trade Area (AFTA) and a number of ASEAN Regional FTAs namely ASEAN-China, ASEAN-Japan, ASEAN-Korea and ASEAN-Australia-New Zealand FTAs, which have already entered into force and are now being implemented.

These FTAs bring a number of trade benefits, such as the elimination or reduction of tariffs and non-tariff barriers on goods & services, the protection and promotion of investments, the harmonization of regulations and standards, and promoting ease of travel for business people.

Earlier, DTI-7 regional director Asteria Caberte urged the Cebuano business community to fully take advantage of the FTA’s saying despite previous series of information drive events held by the government led by DTI, Cebuano exporoters and importers in particular still havent maximize the incentives offered by FTA’s.

On the other hand, the Phil Federation of Exporters of the Philippines (PhilExport-Cebu) earlier said that although, there are already existing bilateral agreements with economic powers such as the Japan’s Japan-Philippine Economic Partnership Agreement (JPEPA) and China’s Common Effective Preferential Tariff (CEPT), which exporters have to seriously take advantage with, PhilExport executive director Fred Escalona earlier said that it would be very beneficial for exporters if they are given wider choice.

Likewise, DTI secretary Gregory Domingo urged exporters to take advantage of the trade bilateral agreements inked by the Philippines in other countries, specifically in ASEAN region in order to survive in the stiff global competition.

Although, the Philippines, still has to sign bilateral agreements with giant economies like the United States and Europe, Domingo said exporters or Filipino businessmen in general should find out the different bilateral agreements signed by the Philippines with other countries, as there are growing number of them.

At present, the biggest agreement the country has made is with Japan, through JPEPA, soon Domingo said the Philippines will have bilateral agreements with European Union (EU) and the United States.

“The Philippines is the lowest in terms of availing of the tariff advantages offered by several agreements with countries. Exporters are not taking advantage of this. Maybe because for the lack of knowledge or information,” Domingo said. (FREEMAN)