The Department of Trade and Industry (DTI) said it would push at the minimum the carryover of benefits that Filipino exports currently enjoy under the EU Generalized Scheme of Preferences Plus (EU-GSP+) into the proposed free trade agreement with EU.
“We will ask for the inclusion of the EU-GSP benefits to be carried over to the FTA, all those enjoying export benefits,” said DTI Secretary Alfredo E. Pascual during a press conference held a day after both the EU and Philippines announced the resumption of discussions for the bilateral FTA.Initially, Pascual cited important sectors such as garments, processing, agriculture, fisheries, which depend heavily on the concessions available from the GSP+, for more permanent arrangement under the FTA.
DTI Undersecretary and Board of Investments Managing Head Ceferino S. Rodolfo also added market access for garments and agriculture for coverage in the scope, as well as digital trade, sustainable development ad critical minerals. Pascual said the scoping discussion will start sometime next month to complete it before the end of the year. This means the formal negotiation for the FTA could follow suit hopefully by the “start of the new calendar year, 2024.”
GPCCI President Stefan Schmitz said, “We eagerly look forward to the prospect of the much-awaited EU-PH FTA that will definitely create new opportunities for businesses and drive mutual growth.”
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