European Parliament Approves Philippines Products Tax-Free Access To EU Market

The European Sporting Goods Federation (FESI) welcomes the European Parliament's approval of Philippines products' tax-free access to the EU market.

In mid December 2014

All members of the European Union voted through the European Commission's recommendations to include Philippines in the EU's GSP generalized preferential tariff system.

Prior to this vote, Philippines has benefited from the standard generalized preferential tariff scheme, which gives preferential treatment to exporters in developing countries to reduce or exempt tariffs from entering the EU market.

And the GSP+ will mean further removal of the remaining 6274 items.

This is a major blessing for Philippines's economy, FESI said.

Whether a country is entitled to GSP+

It depends on whether the country adheres to international conventions, attaches importance to human rights and labour rights, the environment and good governance.

"The European Parliament today took the right step to extend the GSP+ concession to Philippines, which will create thousands of job opportunities for the country and help it move towards the path of economic growth and development, while consolidating its commitment to the international community.

The enhanced trade relations will also promote the European sporting goods industry to obtain high-quality procurement options, enhance the competitiveness of our industry, reduce production costs, in line with the interests of European consumers.

FESI Secretary General Alberto Bichi said after the vote of the European Parliament.

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