Philippines benefits from the EU's trade preferences scheme (GSP+): Report
On 10 February 2020, the European Commission released its 2019 Biennial report on the Generalised Scheme of Preference which shows how EU trade preferences support the Philippines and other developing counties.
The Generalised Scheme of Preferences removes import duties on the Philippines and other countries’ exports to the EU. By creating additional export opportunities, it helps the countries to tackle poverty and create jobs while also respecting sustainable development principles.
GSP+ is a special incentive arrangement for sustainable development and good governance. It slashes these same tariffs to 0% for vulnerable low and lower-middle income countries that implement 27 international conventions related to human rights, labour rights, protection of the environment and good governance (Eight beneficiaries).
The EU’s trade agenda contributes to the United Nations Sustainable Development Goals around the world.
The GSP+ report covering 2018-2019 is accompanied by ten Joint Staff Working Documents . Nine of the documents assess the performance of each of the nine beneficiaries of the GSP+ arrangement including the Philippines; the tenth assesses the three GSP beneficiary countries Bangladesh, Cambodia and Myanmar.
Regarding the Philippines,it notes the progress made in addressing poverty, hunger, and unemployment. Positive measures were taken also on environmental protection while concerns remain in other areas, notably human rights.
Commissioner for Trade Phil Hogan said: “Thanks to our trade preferences, the EU imports twice as much from least developed countries as the rest of the world does. This trademark tool of the EU’s trade policy underpins millions of jobs in the world’s poorest countries and acts as an incentive to countries to implement international conventions on human rights, labour rights, good governance and the environment.”
FOR MORE INFORMATION:
More on Generalised Scheme of Preferences (GSP)
Press release: Trade preferences boost developing countries’ exports to the European Union
