The British Chamber of Commerce Philippines (BCCP) on Thursday said it would like to see an extension of the lower tariffs on meat imports in 2023, adding that this was among the items on its wish list for next year.
Chris Nelson, BCCP executive director, said keeping lower import duties on meat coming from the United Kingdom (UK) would be a win-win solution for both countries.
“We are aware that there is a spike in food prices, particularly in pork and beef. And that is because there is a shortage of local supply in the Philippines due to the African swine fever,” said Nelson.
The BCCP official said that bringing in meat products from overseas would help the Philippines on issues concerning food security and inflation.
Earlier in May, the BCCP held its ‘British Meat Trade Mission in Makati City, in partnership with the UK’s Agriculture and Horticulture Development Board.
A delegation of nine British meat traders and suppliers met with local importers and distributors to explore business opportunities between the two countries.
Aside from lower tariff on meat imports, other items in the BCCP’s wish list for 2023 are for the government to ensure the continued growth of exports, improving the ease of doing business, making the Philippines an investment destination, boosting infrastructure developments and digitalization, and the ratification of the Regional Comprehensive Economic Partnership (RCEP).
Tariffs on meat, agricultural inputs
Earlier this year, local business groups have called on the Philippine government to extend an executive order that lowered the tariffs on pork, rice and corn which is set to expire by the end of this year.
The Foundation for Economic Freedom (FEF) called for the extension of the provisions of Executive Order (EO) 171, which lowered the tariff rates on these three commodities, citing its benefits to consumers.
EO 171 lowered the MFN (most favored nation) rates for pork imports to 15 percent in- quota from 30 percent, as well as the out-quota rate to 25 percent from 40 from April to December 2022.
FEF estimated that consumers were able to save P108 billion due to reduced pork prices and P4.2 billion.
The country’s largest business organization, the Philippine Chamber of Commerce and Industry (PCCI) said they were also “fully supportive” of extending the measure, seeing the same benefit in quelling the rising prices of goods.
“That would help temper any more increase in prices and help us deal with the increasing cost of living, as well as the clamor for higher wages,” PCCI president George Barcelon told the Inquirer earlier.
Go Negosyo, an advocate for micro, small and medium enterprises (MSMEs), also supported the call to have the measure extended, but cited it was up to government decision makers to determine duration of the extension.
“I support it, to extend the (lower) tariffs because those are the raw materials,” Go Negosyo Founder Joey Concepcion told the Inquirer in a phone interview.