PH-EU free trade agreement may start talks in first quarter of 2014 - trade official Cristobal
InterAksyon.com | 23 December 2013
PH-EU free trade agreement may start talks in first quarter of 2014 - trade official Cristobal
By: Stella Tomeldan, InterAksyon.com
MANILA — The initial stages of negotiations for the Philippines-European Free Trade Agreement may start first quarter of 2014, Trade undersecretary Adrian Cristobal Jr. said.
He said the Department of TRade and Industry (DTI) has done impact studies on the agreement that explores wider trade and investments with four European countries Switzerland, Norway, Iceland, and Liechtenstein.
"We expect to sign a Joint Declaration (to start negotiations) by the first quarter of 2014...that’s the first step of our work," said Cristobal during the briefing over the weekend at the DTI.
The Joint Declaration, he said signifies cooperation from both parties-the Philippines and the four European countries led by Switzerland to start the initial stages of negotiations.
He said by first quarter, both parties can then proceed with the policy framework and identifying modalities.
"We have expressed our serious intention to proceed with the European FTA after we have done impact studies and consultations with stakeholders," said Cristobal, adding, "we hope to hear from them (four European countries) soon."
Cristobal believes that the strong interests of foreign investors are back with the increasing number of free trade deals being negotiated by the Philippines.
Meanwhile, the Philippines has officially submitted to the European Union (EU) the application to qualify for the Generalised Scheme of Preferences (GSP) to move forward the free trade agreement with EU.
The GSP allows a developing country’s exporters to pay lower duties on their exports to the 28 EU member-countries.
The Philippines’ GSP if approved by the EU gives vital access to EU rich markets including Germany, France, Luxembourg, Italy, and the United Kingdom.
Cristobal said the application for GSP has been submitted on December 11 and now up for evaluation of the EU.
"At this stage, the EU is doing its evaluation on the Philippines’ application for GSP and we are ready to provide them with additional information," said Cristobal.
