EU open to pursuing free trade deal, GSP+ discussions with Philippines: OPS | ABS-CBN
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EU open to pursuing free trade deal, GSP+ discussions with Philippines: OPS
EU open to pursuing free trade deal, GSP+ discussions with Philippines: OPS
ABS-CBN News
Published Dec 16, 2022 02:15 PM PHT
MANILA - The European Council welcomes President Ferdinand Bongbong Marcos Jr's push for a free trade agreement and the renewal of Generalized Scheme of Preferences Plus (GSP+) accreditation, according to the Office of the Press Secretary.
MANILA - The European Council welcomes President Ferdinand Bongbong Marcos Jr's push for a free trade agreement and the renewal of Generalized Scheme of Preferences Plus (GSP+) accreditation, according to the Office of the Press Secretary.
Both trade deals allow member nations to access goods at attractive levels of tariffs, sometimes zero, enhancing the transfer of products.
Both trade deals allow member nations to access goods at attractive levels of tariffs, sometimes zero, enhancing the transfer of products.
Marcos met with the European Council President Ursula Von der Leyen on the sidelines of the Association of Southeast Asian Nations-European Union (ASEAN-EU) summit in Belgium.
The OPS quoted Von der Leyen saying that the GSP+ "would open the door for much easier start into going into free trade agreement negotiations."
Marcos met with the European Council President Ursula Von der Leyen on the sidelines of the Association of Southeast Asian Nations-European Union (ASEAN-EU) summit in Belgium.
The OPS quoted Von der Leyen saying that the GSP+ "would open the door for much easier start into going into free trade agreement negotiations."
During the meeting, Marcos said he expects the expansion of the FTA talks between the Philippines and the bloc as well as the renewal of the country's GSP+ status.
During the meeting, Marcos said he expects the expansion of the FTA talks between the Philippines and the bloc as well as the renewal of the country's GSP+ status.
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A GSP+ status allows the Philippines to export to the EU without duties or with reduced tariffs. The preferential GSP+ status was given to the Philippines in 2012, the OPS said.
A GSP+ status allows the Philippines to export to the EU without duties or with reduced tariffs. The preferential GSP+ status was given to the Philippines in 2012, the OPS said.
The status allowed the country duty-free export of some 6,000 eligible products to the EU market. The status retention is subject to compliance with international agreements.
The status allowed the country duty-free export of some 6,000 eligible products to the EU market. The status retention is subject to compliance with international agreements.
The Philippines has sought the renewal of its renewal of the GSP+ participation and has expressed intent to pursue FTA talks.
The Philippines has sought the renewal of its renewal of the GSP+ participation and has expressed intent to pursue FTA talks.
"Let's work on it," Von der Leyer told Marcos, according to the OPS statement.
"Let's work on it," Von der Leyer told Marcos, according to the OPS statement.
The EU earlier announced that the Philippines was included in the list of countries eligible for renewal of the GSP+ status provided that it implements 27 international core conventions on labor rights, human rights, good governance, and the environment, the OPS said.
"While the Philippines awaits the resumption of the PH-EU Free Trade Agreement negotiations, we remain committed to maintain our EU GSP+ beneficiary status, serving as a stepping-stone towards this FTA," the President told European business leaders.
The EU earlier announced that the Philippines was included in the list of countries eligible for renewal of the GSP+ status provided that it implements 27 international core conventions on labor rights, human rights, good governance, and the environment, the OPS said.
"While the Philippines awaits the resumption of the PH-EU Free Trade Agreement negotiations, we remain committed to maintain our EU GSP+ beneficiary status, serving as a stepping-stone towards this FTA," the President told European business leaders.
The negotiations for the EU-Philippines FTA started in 2016. The last round of discussion was held in 2017.
The negotiations for the EU-Philippines FTA started in 2016. The last round of discussion was held in 2017.
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