Peza exports down slightly as of Nov. 2015 to $40.38B | Inquirer Business
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Peza exports down slightly as of Nov. 2015 to $40.38B

Decline attributed to impact of regulation of chemicals
By: - Reporter / @amyremoINQ
/ 12:20 AM February 05, 2016

Exports of companies registered with the Philippine Economic Zone Authority (Peza) dipped by 0.35 percent to $40.38 billion as of end November 2015, from the $40.52 billion recorded in the same period the previous year, according to data from the state agency.

This slight decline was partly attributed to the expansion last year of the list of regulated chemicals, as this move reportedly had an impact on Peza locators, particularly the electronics companies that import some of these substances for the manufacture of their products.

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Peza director general Lilia G. De Lima admitted that the impact was largely felt in the last quarter of 2015, but this has started to ease as the Philippine National Police had temporarily suspended the imposition of requirements for securing the licenses or permits needed to import some of these commonly used controlled chemicals.

The moratorium, which took effect on Dec. 9 last year, covered 25 chemicals but excluded 16 other substances, including chlorates, nitric acid, explosives and explosives accessories.

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According to De Lima, a technical working group has been tasked to classify over a hundred chemicals into three categories namely red, for the high risk substances; yellow for those deemed to be of low risk; and green for the non-explosives.

De Lima said Peza was also concerned about public safety and national security, but it also wants the PNP and other concerned agencies to be cautious in categorizing some of the commonly used chemicals due to the impact on manufacturing industries.

“We are also concerned about terrorism…. Many of the Peza (locators) are importing these chemicals, as in the case of the electronics industry. If they cannot import these chemicals, they cannot produce their products… We really want to seek the cooperation of the PNP. While they are also there to protect us, (we appeal) that unless needed, we hope that they won’t make it difficult for (the companies to secure the chemicals),” De Lima added.

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TAGS: Business, chemical, Export, Import, Peza, Philippine Economic Zone Authority, regulation
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