The Department of Trade and Industry (DTI) will launch this year an online platform to monitor the country’s utilization of its free trade agreements (FTAs).
In an interview early this week, DTI-Export Marketing Bureau Director Bianca Pearl Sykimte said the agency is now putting up the FTA Information Portal and Origin Management System.
She said the DTI targets to launch this online platform during the National Exporters Week this December.
Through this platform, the government could determine how Philippine-based enterprises are taking advantage of the FTAs that the country signed into.
To date, the Philippines has three bilateral FTAs-the Philippines-Japan Economic Partnership Agreement (PJEPA), the Philippines-European Free Trade Association (PH-EFTA) FTA, and the latest is the Philippine-South Korea FTA.
Two bilateral FTAs are under negotiations-one with the European Union and the other one is with the United Arab Emirates.
Multilateral FTAs that the country entered are mostly with ASEAN and its tr
ading partners such as Australia, New Zealand, China, India, Japan, and South Korea, as well as the larger FTA with these nations except for India, which is the Regional Comprehensive Economic Partnership (RCEP).
Sykimte said aside from monitoring the FTA utilization rate, the online platform will also help existing and aspiring exporters to determine if their products can use any of the country’s FTAs.
‘So, in the FTA Information Portal, it will have an origin simulator. So, you’ll just have to input your materials, your information on your supply chain and then it will make an analysis if you can qualify for preferential rates,’ she said.
Source: Philippines News Agency
