By Kris M. Crismundo
BAGUIO CITY, April 25 (PNA) — The Philippines can further maximize the benefit of the Generalized System of Preferences Plus (GSP+) granted by the European Union (EU) after the economic bloc lifted the yellow card warning on the country’s fish products.
Department of Trade and Industry (DTI) Assistant Secretary Ceferino S. Rodolfo, on the sidelines of the Economic Journalists Association of the Philippines (EJAP) seminar here on Saturday, said exiting from the yellow card warning on illegal, unreported and unregulated (IUU) fishing means the country can maximize the benefits of the EU GSP+ and will boost exports to the EU.
Within the week, the EU issued a green card to the country on IUU fishing which means Philippine marine products are fully compliant with EU standards.
The EU, as the world’s largest fish importer, does not accept fish products from illegal, unreported and unregulated fishing.
On the other hand, the yellow card is issued as a warning to a country to improve its practices through tightening rules on illegal fishing.
A country issued by EU with yellow card has six months to improve its policies on illegal, unreported and unregulated fishing.
If standards have not yet been met on the said period, the EU will issue red card and impose trade ban to the country.
Rodolfo said with the issuance of green card to the Philippines, fish and marine products are no longer threatened to be banned in the EU market and fish products exporters can now enjoy the zero tariff from the EU GSP+.
He mentioned that even if the IUU fishing rule is not a requirement in the EU GSP+, it will be a big loss for the Philippines if its fish products will be banned in the EU market.
He noted that EU is the Philippines’ top export destination for marine and aquaculture products, accounting for 28.5 percent of the country’s global marine exports.
The DTI official stressed that exiting from the yellow card warning is significant for the country as the IUU Fishing Regulation covers 94 percent of Philippines’ exports to the EU.
“Although the IUUF rule is not a requirement in the EU GSP+, if we were issued with red card, we lose our zero-duty benefit on fish exports under the GSP+,” Rodolfo said.
“For you to take advantage of the market access, you need to exit from the yellow card or prevent to have red card,” he added.
With the issuance of green card to the Philippines and its inclusion in the EU GSP+, Philippines fish products entering the EU market will enjoy zero duty.
“The Philippines is conscientious to trade partners that dutifully look after the welfare of its workers, respect human rights and protects the environment. This only emphasizes, allows us to maximize the inclusiveness impact of the GSP+ because it will benefit sectors where the preference margin is really high,” Rodolofo said.
He mentioned that fish products’ preferential tariff under the regular EU GSP is ranging from 4.0 percent up to 20.5 percent.
Data from the EU showed that Philippines’ fish exports to EU amounted to 170 million euros in 2013. (PNA)