President Ferdinand 'Bongbong' Marcos Jr. on Monday said he will bring up the Generalized Scheme of Preferences Plus (GSP+), a mechanism that allows duty-free exports to the European Union, with other world leaders.
President Ferdinand "Bongbong" Marcos Jr. on Monday said he will bring up the Generalized Scheme of Preferences Plus , a mechanism that allows duty-free exports to the European Union, with other world leaders.
Marcos is currently in Brussels, Belgium to attend the Commemorative Summit between the Association of Southeast Asian and the European Union. "We’ll bring it up with the EU. I don’t think one thing should be related to the other but we’ll see,” Marcos said in an interview.mulled the removal of some of the Philippines’ trading privilegesUnder the GSP+, a mechanism that gives developing countries the privilege of exporting zero-duty merchandise to EU-member states, some of Philippine exports to Europe are benefiting from tariff breaks.The country’s participation in the GSP+ will expire in December 2023.
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