NextGen Day

In his discussions with EU leaders, President Ferdinand R. Marcos Jr. will bring up the Philippines’ Generalized Scheme of Preferences Plus (GSP+) status.

During the commemorative summit between the Association of Southeast Asian Nations (ASEAN) and the European Union (EU), which runs from December 12 to 14, Marcos will meet with EU leaders.

On a trip to Brussels, Belgium to attend the ASEAN-EU Summit, he said to reporters, “We’ll bring it up with the EU. I don’t think one item should be tied to the other but we’ll see.”

In order to address the nation’s EU GSP+ advantages, Marcos and his group will meet with concerned representatives of the European Commission, the European Council, and the European Parliament.

The nation’s GSP+ status encountered difficulties in February after the EU Parliament threatened to temporarily suspend trade privileges for the nation due to claims of press repression and human rights violations.

The Philippines will continue to pursue a free trade agreement (FTA) with the trading bloc and would look to renew its participation in the EU GSP+, according to the Department of Trade and Industry (DTI) in October.

Trade Secretary Alfredo Pascual claimed that “major” changes had occurred in the Philippines, including a new president, a change in the way that illegal narcotics are dealt with, and a renewed commitment to fighting climate change.

Last month, EU Ambassador Luc Veron stated that although the EU is still interested in an FTA with the Philippines, it must first consider the likelihood of continuing the talks.

It is evident that it will make it easier for the EU and the Philippines to further examine the potential of a resumption of the negotiations. “We look forward to movements by the Philippines implementing its commitments in the GSP+ convention,” Veron added.

In 2013, the two sides began preliminary discussions for a bilateral free trade agreement.

The last round of negotiations for the EU-Philippines FTA took place in Cebu City in 2017. Since then, there has been a pause in negotiations.

6,274 products that the Philippines imports into the EU market are duty-free thanks to the EU GSP+.

To maintain the benefits of trade, the Philippines must abide by the 27 international treaties on human rights, labor rights, environmental protection, and good governance.

In December 2023, the Philippines’ membership in the GSP+ will come to an end.

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