Meet seeks stakeholders’ feedback on trade talks with EU

AT LEAST 130 representatives from export groups, the academe and the government sector are expected to attend today’s consultation about the Philippine government’s position in ongoing negotiations for a free trade agreement (FTA) with the European Union.

“Currently, there are negotiations for a free trade agreement going on. We also want to get feedback from the sectors that will benefit or be impacted by this agreement,” DTI Cebu Provincial Director Ma. Elena Arbon said in a recent phone interview.

Dubbed “One Country, One Voice (OCOV) Stakeholders Consultation on the Philippines’ Europe Strategy,” the meeting, which is organized by the Bureau of Internal Trade Relations, is held today at the Quest Hotel and Conference Center in Cebu City.

Among the topics that will be discussed are the EU’s generalized system of preferences (EU GSP+), market access, rules of origin, investments, and intellectual property rights.

“Consultation inputs are meant to define or strengthen the government’s position on the FTA,” said Arbon.

She said the consultation would also be an avenue where stakeholders could raise the issues they had with the agreement.

The first round of talks between the Philippines and the EU was held in Brussels from May 23 to 27 this year.

In an earlier Inquirer report, the DTI said they were eyeing an FTA with the EU to more permanently secure export products should the country “graduate” early from the EU GSP+ progam.

Under the GSP+ program, the Philippines can export over 6,200 product lines to the EU with zero tariff, but the country will only enjoy this benefit for 10 years.

There is also a possibility of the country leaving the program early, depending on how fast its economy grows in the next decade.

An FTA with the 28-member EU is, therefore, the country’s ticket to a permanent and long-term relationship with the bloc.

The agreement is also seen to bring in more investments from Europe.

A bilateral agreement with the EU is expected to help the country secure a more significant share of foreign direct investments that EU companies are pouring into the region, the Inquirer report added.

The EU is currently ranked as the Philippines’ fourth largest trading partner, third largest import source and fourth largest export market.
Among the major exports of the Philippines under the EU GSP scheme include crude coconut oil, canned tuna, and spectacle lenses.