Duty-free privileges of Philippine exports to the United States will likely resume in 2022, according to Ceferino Rodolfo, undersecretary of the Department of Trade and Industry.
Rodolfo said officials of the Philippines will meet with the US side on November 15 and 16 under bilateral, strategic dialogue and will use this occasion to tackle the US Trade Representative Office issues on free trade agreement and with the State Department the renewal of the Generalized System of Preferences (GSP).
Rodolfo expressed optimism the GSP will be renewed as in the past.
“But based on the US’ calendar, it will not be renewed this year. Most likely, the renewal will be next year. As we talk to (officials of ) the State Department, we will really emphasize the importance of GSP especially now that Philippine-US relations are improving,” he said.
Rodolfo said at the dialogue, the Philippines will pursue industrial cooperation as well as investments for supply chain projects that are critical for the US.
GSP grants duty-free status on beneficiary countries including the Philippines. Seventy percent of Philippine exports to the US were eligible until scheme expired at the end of 2020. – Irma Isip
