MANILA: The Department of Trade and Industry (DTI) has underscored the importance of the European Union (EU) Generalized Scheme of Preferences Plus (GSP+) to the Philippines in a meeting with the visiting representatives of the EU Parliament.
DTI Secretary Alfredo Pascual met with representatives of the EU Parliament Subcommittee on Human Rights in Makati City on Feb. 22, wherein the trade chief gave updates on the country’s commitment to the 27 international conventions and how the GSP+ has benefited the Philippines and EU economic relations.
The EU Parliament representatives who met with Pascual were Isabel Wiseler-Lima of the Group of the European People’s Party, Karsten Lucke of the Group of the Progressive Alliance of Socialists and Democrats, Hannah Neumann of The Greens and the European Free Alliance, Ryszard Czarnecki of the European Conservatives and Reformists Group, and Miguel Urban Crespo of The Left.
The representatives of the EU Parliament Subcommittee on Human Rights are visiting Manila to meet with Pascual and Justice Secretary Jesus Crispin Remulla from Feb. 22 to 24.
In a Viber message to trade reporters Thursday, Pascual told the visiting EU Parliament representatives that 26 percent of the county’s exports are benefiting from the EU-GSP+.
“This preferential scheme benefitted not just our local industries but even foreign investors doing business in the country,” he said.
The Philippine government bats for the renewal of the EU-GSP+, which is set to expire by the end of this year.
Under this trade preference program, 6,270 goods from the Philippines that enter the EU market have zero tariffs.
Pascual also conveyed to the EU Parliament representatives the country’s interest to resume the Philippines-EU free trade agreement (FTA) talks, which has been on hiatus for almost six years.
“We urge them to support the resumption of the PH-EU FTA negotiation,” he added.
Source: Philippines News Agency
