WELLNESS IN TRADE & INDUSTRY: Boosting Philippine exports to Europe - The Philippines seeks to increase its exports to the 27-nation European Union (EU) by applying for more duty-free privileges under the revised Generalized System of Preferences (GSP+) EU scheme to support less developed economies starting January 1, 2014. The country now benefits from the general GSP arrangement which covers 6,209 products, 2,442 of which are subject to zero duty, while 3,767 are subject to reduced tariffs. Philippine top GSP exports to EU include crude coconut oil, pneumatic tires, spectacle lenses, canned tuna, prepared fruits, activated carbon, and imitation jewelry. Last year, the country shipped 1.076-billion euros or P62.8-billion worth of products under the GSP. The GSP+ arrangement has a larger coverage of 6,274 products, all of which are subject to zero duty. Major products that will enjoy zero duties include textiles with 1,125 product lines, agriculture with 918 lines, and fisheries with 292 lines. If the Philippines qualifies for GSP+, the Department of Trade and Industry estimated that Philippine exports to EU may increase by 12% and create 270,000 jobs.- | Tempo - News in a Flash

Boosting Philippine exports to Europe | Tempo - News in a Flash: "Zero-duty preference under GSP+ will benefit other items the Philippines is exporting under the regular GSP, including animal/vegetable fats and oils, machinery and mechanical appliances, chemical, and plastic products. In 2012, Philippine GSP exports to the 27-nation bloc reached €1.07 billion, the largest of which were chemical products (€101.0 million), vegetable products (€5 million), wood and articles of wood (€5 million), and jewelry (€31 million).
To avail of GSP+, a country must meet two conditions. First, products comprise less than 2% of Europe’s GSP imports. Second, countries must have ratified and are abiding by 27 international conventions on human and labor rights, sustainable development, environment, and good governance."

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