THE Department of Trade and Industry (DTI) remains confident that exports will grow steadily with the continuation of the European Union’s (EU) Generalized Scheme of Preferences plus (GSP+) scheme, with the target for 2018 export growth estimated to hit double digits.

Trade Secretary Ramon M. Lopez said last week that he held informal talks with EU trade commissioner Anna Cecilia Malmstrom during the World Trade Organization’s 11th Ministerial Conference in Buenos Aires, Argentina early this month.

“The last time we talked it was about continuing the engagement,” Mr. Lopez said, and while he added that no firm commitments have been issued other parts of the EU have concerns about continuing the trade arrangements,” he added.

Mr. Lopez said that there is a good chance that the preferential tariff system will continue once the EU completes a review in January of the Philippines’ eligibility.

“It’s not [much of] an issue but it’s part of their monitoring, in reviewing labor compliance and many other aspects; I think the overall message is optimistic. I think they’d like to engage us,” Mr. Lopez added.

GSP+, which the Philippines was admitted to in December 2014, grants more than 6,000 export goods — mainly food products and textiles — zero-tariff treatment.

The Philippines is the only Southeast Asian country to belong to the scheme, which is intended to help developing countries improve their trade.

The Philippine Statistics Authority said growth in total exports slowed to 6.6% year on year in October to $5.37 billion. Total imports, on the other hand, rose 13.1% to $8.21 billion, raising the trade deficit to $2.84 billion.

“[Next year, we plan to] just maintain [export growth]. Remember that last year exports did not rise. It was challenging. We could go for 12% to 15%, so let’s target that. We haven’t talked about it yet but you know, the long-term and mid-term target is double digits,” he added.

Mr. Lopez also said that the EU was eager to provide aid to the Philippines despite President Rodrigo R. Duterte’s preference to not accept financial support from the West. — Anna Gabriela A. Mogato

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