British businesses in the Philippines are hopeful government will extend the preferential tariff on pork and called for the passage of a legislation addressing agricultural smuggling.
“British pork has made inroads here…our supply has increased significantly and has helped with food security and inflation. We see that trend continuing,” said Chris Nelson, executive director of the British Chamber of Commerce of the Philippines (BCCP), in a televised interview.
Nelson said this depends on the trends as pork prices have gone up globally due to a reduction in herds caused by feeds supply issues arising from the Ukraine-Russia conflict.
“But this is cyclical, so we’ll see it pick up,” he said.
Nelson said the BCCP has forwarded its position to the Tariff Commission on extending the validity of Executive Order (EO) 10 that expires at the end of the year. The EO reduced most favored nation tariff rates on meat of swine fresh chilled or frozen to 15 percent in-quota and 25 percent out-auota.
“The economic team is in favor of extending this…clearly extending the lower tariffs will help in the fight (against) inflation…. And there was an indication that could be a shortage of pork at this time of the year,” Nelson said.
The Philippines is the second largest market for British pork after China in Asia.
BCCP is currently holding a Philippine-British meat trade mission attended by 50 delegates mostly from large meat importers.
Nelson also expressed hope Senate will pass the Anti-agricultural Smuggling Act , a priority measure of the government, to reinforce and strengthen the agriculture sector.
According to Nelson, the House version has already been passed.
“ It’s good to see that inflation had moderated last month. We’re optimistic or hopeful that the growth will recover, “ said Nelson, adding continuing interest is expressed by UK businesses in the Philippines in cybersecurity, food and beverage, renewable energy.