EU, PCCI ask PH gov’t for trade facilitation measures

MANILA, Philippines—The European Union (EU) and the Philippine Chamber of Commerce and Industry (PCCI) on Thursday called for less red tape and more trade facilitation measures in anticipation of the regional integration in 2015.

“The full integration of Asean (Association of Southeast Asian Nations) into the Asean Economic Community (AEC) in 2015 offers golden opportunity for the Philippines to institutionalize trade facilitation measures and paves the way for its participation in more advance trade agreements such as the Regional Comprehensive Economic Partnership Agreement (RCEP),” the two organizations said in a joint statement.

The statement came almost a year after the negotiations on the World Trade Organization (WTO) Trade Facilitation Agreement was concluded. The agreement aims to simplify and streamline international import and export procedures.

“With President (Benigno) Aquino’s visit to Europe last month, the Philippines showed an ambition to bring our commercial relationship to the next level. Our trade already increased by more than 20 percent this year but much more is possible. Trade facilitation is one measure which could accelerate EU-Philippines trade,” EU Ambassador Guy Ledoux said.

The EU pointed out that some estimate $960 billion could be added to the global gross domestic product (GDP) if measures agreed upon by the WTO last year are implemented.

Among the measures pushed by PCCI is the approval of the Customs Modernization and Tariff Act, Philippine support of multilateral efforts for the adoption of the Trade Facilitation Agreement, and immediate automation of customs procedures, among others.

“These priorities mirror the aspirations of the business community in locking in long-term and sustainable gains of the current economic track of the country,” both groups said.