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Gas policy sets stage for LNG terminal bids

THE Department of Energy (DoE) on Tuesday outlined its policy for the downstream natural gas industry, a strategy for making the Philippines a regional hub for the fossil fuel, which includes plans for a $2-billion liquefied natural gas (LNG) terminal.

“That would guide everybody including PNOC (Philippine National Oil Co.)… to operate an LNG  terminal,” DoE Secretary Alfonso G. Cusi told reporters at the ceremonial signing of Department Circular 2017-11-0012 or the “Rules and Regulations Governing the Philippine Downstream Natural Gas Industry.”

He said the circular is needed ahead of the construction next year of the integrated LNG facility. Many companies that are keen on participating in the project have been awaiting the issuance of the rules before firming up their plans.

“It takes two and a half years to make it [LNG terminal] operational from the time the project starts,” he said.

He said the project should be completed before the expected depletion of the Malampaya offshore gas find near Palawan island in 2024.

“But we will not wait for that. We need that in place in three years’ time,” he said.

He said local and foreign project proponents have approached PNOC to partner with the DoE’s commercial arm in the project.

Separately, DoE Undersecretary Donato D. Marcos said under the rules, PNOC or its unit PNOC Exploration Corp. (PNOC-EC) may acquire at least a 10% stake in the LNG project, which will house a storage, regasification and a power plant.

He placed the facility’s cost at around $2 billion and its eventual capacity at five million metric ton per annum.

“We’ve finished. We have complied with all the policy regulations, it’s up to them (PNOC) to find a partner,” Mr. Cusi said.

But he said foreign entities that submit proposals directly to the DoE will still be referred to PNOC or PNOC-EC for a possible partnership.

“They are choosing a partner to move their project forward. So that is complying with the policy that we have crafted,” he said, adding that three proposals from foreign groups are being evaluated by PNOC.

Mr. Marcos said the LNG terminal’s power plant component can be 100% owned by foreigners, although the public utility component is subject to the constitutional limitation of 40% foreign ownership.

“That’s why the permit is for the third-party access,” Mr. Marcos said.

Under the rules, excess capacity of the LNG terminal, transmission system, distribution system and other services offered by the operator should be made available on a transparent and non-discriminatory basis to third-party users. — Victor V. Saulon

BGC reveals new murals

UNLIKE MANY cities in the metro which are covered with billboards, Bonifacio Global City (BGC) is covered in art.

Walking around its streets gives members of the community a different experience as its empty surfaces are adorned with murals, with six new ones launched as part of this year’s Art BGC 2017: Artists as Champions of Passion project.

“Unlike many art events, we (BGC Arts Foundation) intentionally emphasize how artists are such genuine icons of passion. The emphasis is not just on the work but in the individuals who make it possible,” BGC Arts Program’s Head of Content Maria Isabel Garcia said at a press conference launching the murals on Nov. 22 at the BGC Arts Center.

“Public art is not [a] gimmick. It is not a byproduct of BGC development. It is the slant in its soul,” Ms. Garcia emphasized, saying that the “unbranded public art” was an established pillar of the BGC development plan.

This year, individual artists and artists groups — both local and foreign — painted on nine surfaces around the city. The project was made possible by a grant from the Fort Bonifacio Development Corp. which supports creative efforts for the city.

The six new murals tell stories of reminiscing about home, a special meeting place, urbanization, technological developments, dreams and aspirations, and cross-border friendships.

• Beyond Borders, Peaceful Voyage

Artists: Younggyun, Nam, Siyeong, Sunil, Auggie, Bunga, Bows, Haha, Perol, Pesey, Ariff, Cyrus, Zero, Miguel, and Nemo

Located at 26th St. cor. 5th Ave.

Eleven ASEAN countries — the Philippines, Korea, Cambodia, Thailand, Vietnam, Laos, Singapore, Brunei, Malaysia, Indonesia, Myanmar — are depicted in the mural. The main artists from Korea and several ASEAN countries, along with over a hundred local and expat volunteers, collaborated to create the mural which was initiated by the Korean Cultural Center (KCC) in partnership with the National Commission of Culture and Arts (NCCA) and the Bonifacio Art Foundation. The mural showcases a traditional Korean chaekgado (shelf) which contains symbols representing the various ASEAN countries (e.g. national flags, Hindu gods, famous landmarks and statues). The merging of the shelves represents friendship among the countries. A QR code at the bottom center of the mural (which can actively be accessed with a QR code scanner) leads to the Korean Cultural Center’s official Web site (phil.korean-culture.org/).

• For the People: Gates of Paradise

Artist: Palimpsest (Milles Villanueva, Aids Mariñas, Steven Bruce, and Leny Leonor)

Located at the BGC Bus Depot

Aids Mariñas of Palimpsest explained that they wanted to intertwine nature and the advancements of technology through their mural. The mechanize caterpillar represents developing technology and a thriving city on top of it. The artists aimed at portraying the message that growth and development, as well maintenance of nature, lies in the hands of the people. The artists were inspired by films such as Hayao Miyazaki’s Howl’s Moving Castle, Wall-E, and Snowpiercer.

• Tree House

Artists: Jerson Samson and Janica Rina, assisted by Chris Andujar Villegas and Jaypee Samson

Located at the Bonifacio High Street B2 Portal

Jerson Samson’s concept of people building additional houses on top of large trees springs from the rise of urbanization and overpopulation in the city. The brightly colored mural depicts a busy city illumined by the rising sun at the center. A closer look at the 11 tree houses shows small but detailed household scenarios.

• The Way Home

Artist: Solana L. Perez

Located at One Parkade

At the entrance of the One Parkade (a parking lot) is Solana Perez’s three-mural series. The piece sprang from her homesickness and sentimentality towards her hometown, Baguio City. The murals feature horses and allusions to the Cordillera mountains. The artist also used a combination of bright colors to convey the happiness she feels when thinking of her hometown.

• Dating Tagpuan

Artists: John Paul Antido, Raymond Vidal, Antonio Areola, Jr., Shannah Orencio, Pogs Samson, Gab Baez, Red Salonga, and Fiona Helena

Located at the C3 Annex, Bonifacio High Street Central (30th St. cor. 7th Ave.)

What used to be a special meeting place back in the day is where a new building now stands. The memory of the old meeting place is represented through the adjacent image of a man on a jeepney and a woman riding a carabao meeting each other’s gaze at the specific location under a lamp post despite traveling in opposite directions.

• Kapit Kamay

Artist: the Biskeg Pangasinan Artist Collective headed by Patrick Fernandez

Located at the C3 Annex, Bonifacio High Street Central (30th St. cor. 7th Ave.)

The cubist image of a tree with leaves shaped like a brain and clasped hands as its trunk represent an older generation imparting wisdom to hopeful individuals who aim to promote the art scene. The representation springs from the Pangasinan-based artist group’s aim to uplift local artistry. Meanwhile, the image of the water that camouflages three small fishes references to Pangasinan’s popular beaches. — Michelle Anne P. Soliman

ABS-CBN, GMA claim ratings lead in November

ABS-CBN Corp. and GMA Network, Inc. once again claimed the lead in nationwide television ratings for November, citing different audience measurement providers.

Using data from Kantar Media, ABS-CBN said it had an average audience share of 46% nationwide versus GMA’s 34% in November.

Kantar Media uses a nationwide panel size of 2,610 of both rural and urban households to represent nationwide viewership.

ABS-CBN said it kept its lead in Mega Manila with an average audience share of 37% against GMA’s 34%, and in Metro Manila, with 41% versus GMA’s 27%.

The Lopez-led media giant said its audience share stood at 44% in Total Luzon against GMA’s 35%; 54% in Total Visayas versus GMA’s 27%; and 49% in Total Mindanao versus GMA’s 34%.

For the month of November, ABS-CBN said it dominated all time blocks, particularly prime time with an average audience share of 51% versus GMA’s 32%. Its most popular show remained FPJ’s Ang Probinsyano, with a national TV rating of 41.1%.

Meanwhile, GMA Network said it dominated the National Urban Television Audience Measurement (NUTAM) with an average total day people audience share of 43.2% against ABS-CBN’s 38.2%, citing Nielsen Philippines TV Audience Measurement.

GMA said it bested ABS-CBN across all day parts in NUTAM, with a 42.1% in the evening block versus the latter’s 40.8%.

The media company also said it registered a total day people audience share of 48.8% in Urban Luzon versus ABS-CBN’s 32.6%.

After MVP season in MCBL, Hobe Macway’s Buenafe may make a PBA return

IT wouldn’t take long for Ronjay Buenafe to make his return to the PBA.

The 6-foot-1 veteran guard used his stint with Hobe Macway in the Marikina City Basketball League (MCBL) in keeping himself in tip-top condition for his likely return to the pros.

In the MCBL, he helped Hobe Macway in reaching the Final Four while piling up his personal stats and getting noticed by PBA squads.

“That’s really our objective — to give these players like Buenafe — another opportunity of getting back to the PBA. We know they’re capable of making it back to the pros. They just need a break,” said Hobe Bihon-Macway team manager James Café.

One squad which showed interest in his services was NLEX-SCTEX, one of the Road Warriors’ farm teams in the amateur leagues.

The Road Warriors are set to give Mr. Buenafe a one-year deal in reuniting with his old coach, Yeng Guiao, in the PBA.

NLEX team executive Ronald Dulatre confirmed this latest development to BusinessWorld, which means Mr. Buenafe will join the already stacked guard rotation of the Road Warriors that also has rookie Kiefer Ravena, Kevin Alas, Alex Mallari, veteran swingman Cyrus Baguio, Juami Tiongson, and Emman Monfort.

“We will give him a one-year deal,” added Mr. Dulatre, whose team in the MCBL coached by Jojo Lastimosa has just won a championship. “Let’s see it from there.” — Rey Joble

SC denies reconsideration pleas against martial law in Mindanao

THE SUPREME Court (SC), voting 10-3-1 at yesterday’s en banc session, denied with finality all three motions for reconsideration on its earlier decision upholding the declaration of martial law and suspending the privilege of the writ of habeas corpus in the whole of Mindanao.

The high court’s majority ruling was based on “mootness and lack of merit.”

“In the matter of the consolidated Petitions in G.R. No. 231658 (Representatives Edcel C. Lagman, Tomasito S. Villarin, Gary C. Alejano, Emmanuel A. Billones, and Teddy Brawner Baguilat, Jr. v. Hon. Salvador C. Medialdea, Executive Secretary, Hon. Delfin N. Lorenzana, Secretary of National Defense and Martial Law Administrator; and General Eduardo Año, Chief of Staff of the Armed Forces of the Philippines and Martial Law Implementor), G.R. No. 231771 (Eufemia Campos Cullamat, et al. v. President Rodrigo Roa Duterte, et al.), and G.R. No. 231774 (Norkaya S. Mohamad,et al. v. Executive Secretary Salvador C. Medialdea, et al.), the Court, voting 10-3-1 (Jardeleza,J., on leave, did not leave vote), denied with finality for mootness and lack of merit all three Motions for Reconsideration filed by petitioners from the Court’s Decision dated 4 July 2017,” the SC said in a media briefer.

The 10 members of the SC who voted to dismiss were: Associate Justices Presbitero J. Velasco,Jr., Teresita J. Leonardo-De Castro, Diosdado M. Peralta, Lucas P. Bersamin, Mariano C. Del Castillo (ponente), Estela M. Perlas-Bernabe, Samuel R. Martires, Noel G. Tijam, Bienvenido L. Reyes and Alexander Gesmundo.

Meanwhile, Chief Justice Maria Lourdes P.A. Sereno and Justice Alfredo Benjamin S. Caguioa voted to grant in part, pointing out that there is sufficient factual basis for martial law and suspension of the privilege of the writ of habeas corpus in three provinces only: Lanao del Sur, Maguindanao, and Sulu.

Senior Associate Justice Antonio T. Carpio also voted to grant in part, but reasoned out that there is sufficient factual basis only for Marawi City.

Justice Marvic Mario Victor F. Leonen gave the lone vote in favor of the motions for reconsideration. — Andrea Louise E. San Juan

Berlin art show shocks with jihadist ‘martyrs’ display

BERLIN — A Berlin art installation dedicated to “martyrs” has prompted outrage by including one of the Paris jihadist attackers alongside the likes of Martin Luther King and Socrates, with the French embassy calling the display “deeply shocking.”

The so-called Martyr Museum by a Danish art collective shows the portraits of 20 people throughout history who “died for their convictions” accompanied by short biographies.

The exhibition includes an image of French jihadist Ismael Omar Mostefai, one of three gunmen and suicide bombers who stormed the Bataclan concert venue in Paris in 2015, killing 90 people. On display next to his portrait is an entrance ticket to the Bataclan. Also sharing a wall with US civil rights icon King and Greek philosopher Socrates is Mohammed Atta, the pilot who slammed a passenger plane into one of New York’s World Trade Center towers on Sept. 11, 2001.

The weeklong installation by the art group, The Other Eye of the Tiger, was inaugurated last Wednesday at the Kunstquartier Bethanien art center.

It sparked howls of outrage in German and French media and on social networks. The French embassy in Berlin expressed “consternation” and said it found the decision to include the attackers “deeply shocking.” “While keeping in mind our attachment to the freedom of artistic creation, we strongly condemn the confusion here between martyrdom and terrorism,” it said in a statement.

But the art collective defended the show, saying that it condemned any kind of violence or terrorism and that it was merely taking a wide look at the usage of the term “martyr.” “All the martyrs in the artwork have been appointed martyr by either a state, religion or an organization. None of the martyrs have been appointed by the artists,” it said in a statement.

Berlin city hall authorities distanced themselves from the project, saying in a statement they did “not support it” and had not provided any financial assistance.

An earlier version of the Martyr Museum in Copenhagen in 2016 also caused controversy, with critics filing a police complaint accusing the artists of “encouraging terror.” — AFP

Effects of plain packaging on the Intellectual Property Rights of stakeholders

The world is now waiting for the World Trade Organization’s decision on the validity of plain packaging measures on tobacco products in Australia. If found to be valid, this could have a huge impact, not only on the tobacco products, but to other consumer goods deemed dangerous to health.

Plain packaging measures arise from the government’s legitimate interest and duty to protect and improve public health through the reduction of health risks associated with the consumption of certain products (e.g., alcohol, tobacco, etc.) which may have adverse effects on an individual’s health.

Australia is the first country to have a comprehensive plain packaging law, and it requires that all outer surfaces of tobacco retail packaging be in a specified color. The law also prohibits use of tobacco industry logo, brand imagery, colors, and promotional text on tobacco products and retail packaging, other than the brand and variant names which must appear in a standard color, position, font style and size.

While the Philippines, at present, does not have any formal plan of adopting plain packaging measures, some groups have pushed for the same. At present, we only have a Graphic Health Warning law which requires graphic health warnings on the bottom 50% of the front and back of tobacco packages, and a ban on misleading descriptors. However, should the WTO favor the Australian government in its implementation of plain packaging measures, it is foreseen that other countries will follow suit.

WTO’s impending pronouncement will also have an effect on other industries which manufacture or produce products deemed dangerous to health.

In a recent discussion sponsored by the International Chamber of Commerce in Singapore, Mike Ridgway of the Consumer Packaging Manufacturers Alliance mentioned that in other countries, there is a call to apply plain packaging not only to tobacco products, but to other products such as alcohol, junk food, soft drinks, and even on cereal boxes.

Clearly, plain packaging will change the landscape of how these industries will now conduct their business, especially on how they market their brand.

While the purpose of the plain packaging law is commendable, plain packaging may be said to restrict, if not totally remove, the use of brand names, logos, or product design elements from the packaging of products. Plain packaging measures will deprive a trademark owner of protection of its intellectual property rights. Such measures will erode more than a century of intellectual property protection, according to a letter sent by the ASEAN Intellectual Property Association to the WTO.

With the implementation of plain packaging measures and because of the uniformity in appearance and packaging, consumers are likely to perceive products as similar in terms of quality and characteristics.

Thus, price will become the primary distinguishing and competing factor, and producers will be forced to cut prices at the expense of a product’s quality and innovation. Moreover, due to the lack of distinctiveness, infringers will be encouraged to pass off or infringe the trademarks as it would be easier for counterfeiters to reproduce such plain packaging.

In view of the impact to the intellectual property rights of trademark owners, plain packaging measures may be considered to adversely affect the intellectual property rights of trademark owners.

The views and opinions expressed in this article are those of the author. This article is for general informational and educational purposes and not offered as and does not constitute legal advice or legal opinion.

 

Joan Janneth M. Estremadura is an Associate of the Intellectual Property Department of the Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALAW).

830-8000

jmestremadura@accralaw.com.

Palace assures probe on retired priest’s murder, but cautions against ‘political killing’ tag

MALACAÑANG ON Tuesday assured the public that the Philippine National Police (PNP) will investigate the murder of Nueva Ecija priest Fr. Marcelino “Tito” Paez, but cautioned against labeling the crime as a “political killing”. “Like all killings, they will be investigated by police authorities. And if there’s sufficient evidence to charge anyone, then authorities are duty-bound to file the necessary information,” Presidential Spokesperson Harry L. Roque, Jr said in a press briefing. However, he said, “(W)e do not know yet if this is a political killing pursuant to the definition of the Supreme Court on extralegal killings … which is a killing of political activist and a killing of journalist,” he said. Mr. Paez, a former parish priest in Guimba and currently coordinator of the Rural Missionaries of the Philippines in Central Luzon, was shot on Monday while driving at San Leonardo, Nueva Ecija. Earlier that day, Mr. Paez assisted in facilitating the release of political prisoner Rommel Tucay detained at the Bureau of Jail Management and Penology (BJMP) in Cabanatuan. Administrative Order No. 35 defines extrajudicial or political killings as those wherein the victim was “a member of, or affiliated with an organization, to include political, environment, agrarian, labor, or media practitioner, or person(s) apparently mistaken or identified to be so. — Rosemarie A. Zamora

PCC approves four M&A transactions

THE Philippine Competition Commission (PCC) recently approved four merger and acquisition (M&A) transactions involving local and multinational firms operating in the country. 

In a decision penned Dec. 1, the PCC said it will take no further action on the $66-billion deal between Bayer AG and United States-based seeds group Monsanto Company that would potentially create the world’s largest integrated pesticide and seeds company. 

Bayer’s takeover of Monsanto is expected to be completed in early 2018. Monsanto has a local unit in the Philippines, and is the largest agrochemical company in the world with a 25% share of the global proprietary seed market. 

In its decision, the PCC said “there appears to be sufficient competitive constraints from other market participants on the merged firm post-transaction in the markets for vegetable seeds and non-selective herbicides. 

At the same time, the PCC gave the green light for K.K. Pangea to proceed with its acquisition of shares in Toshiba Memory Corp. from its parent, Toshiba Corp. for ¥2 trillion. K.K Pangea is a special purpose company owned by Bain Capital Private Equity. 

The approval comes as the PCC noted that transaction will leave no material impact on Toshiba’s operations in the Philippines. 

In a separate decision, the competition watchdog has also approved Allfirst Equity Holdings, Inc.’s proposal to consolidate ownership of the Philippine Geothermal Production Company, Inc. (PGPC).

The transaction will be made through its affiliate ACEHI Star Holdings, Inc., which will be acquiring the interest of Union Oil Company of California, Inc. in Chevron Geothermal Philippines Holdings, LLC. (CGPH), which in turn holds a minority stake in PGPC: 

Prior to the transaction, Allfirst already had a 60% interest in PGPC, while the remaining 40% is held by CGPH. 

The PCC said that the “does not appear that there will be any change in control of the relevant operating entity post-transaction.”

TQMP Glass Manufacturing Corp. (TQMP)’s purchase of the entirety of AGC Flat Glass Philippines, Inc. (AGPH)’s shares in Asahi Glass Co. Ltd has likewise been approved. This will allow TQMP to enter into the manufacturing and sale of flat glass, as AGPH is engaged in this business.

The PCC is tasked to review all mergers and transactions valued over P1 billion to ensure that the deal does not hamper competition in the market. — Arra B. Francia

At LA Auto Show, luxury means electric mobility, large SUVs

SUCCESS used to come easily for BMW, whose sporty sedans in three sizes would be snapped up by affluent consumers.

But the premium auto business has now become more complicated, as illustrated by the BMW models displayed at the Los Angeles Auto Show (ongoing until Dec. 10), amid a backdrop of heavy spending by luxury car brands on new models and technology as they make awkward leaps from a predictable past to an uncertain future.

On one side of BMW’s display stands a prototype of the X7, a vehicle that was unthinkable in the brand’s lineup a few years ago when the top-of-the-line model was still defined as a large sedan. On the other side, BMW displayed the i Vision, a prototype of an electric sedan that will rival Silicon Valley electric luxury car maker Tesla, Inc.’s Model S when the production version launches in 2021.

“This is the future,” said Bernhard Kuhnt, the new head of BMW’s North American operations, referring to the i Vision Dynamics and electric vehicles in general.

More immediately, Mr. Kuhnt said, the X7 represents BMW’s determination to offer more SUVs, which now account for more than half of luxury vehicle sales in the US, to reverse a 4% slide in sales this year through October.

“In October, we sold 60% sedans in a market that is 55% SUVs,” he said.

But next year, as BMW’s US dealers get more newly redesigned X3s and the new X2, the SUV-to-sedan ratio will start to flip, and sales should grow, Mr. Kuhnt said.

BMW’s rivals are at different points in their own jumps from the strategies that fueled growth during the past two decades. The type of vehicle that defines the top end for German luxury brands shows how the business is changing.

“The classic definition of the standard bearer as a three-box sedan — that is migrating in three directions,” said Scott Keogh, head of Audi’s US operations. One direction, he said, is “electrification as the new prestige,” a trend driven by Tesla.

Rivals at other established luxury brands agreed during interviews at the LA show that some form of electric power — fully electric or plug-in hybrids — is now necessary in order to compete.

“The US is a market where customers are asking for electric vehicles,” Hakan Samuelsson, chief executive of Volvo Cars, said in an interview on the sidelines of the LA auto show. “That’s a premium value — to be carbon free.”

Volvo has said it will engineer all its vehicles to rely on full or partial electric power starting in 2019.

Another way the market is veering away from sedans is with the rise of the large luxury SUVs, now available in most premium brands at prices that can easily top $100,000. Jaguar Land Rover, owned by India’s Tata Motors Ltd, is displaying a $207,900, 557hp Range Rover at the LA show. Audi plans to launch a Q8 SUV next year that will add a more luxurious SUV to the top of its US lineup, Keogh said. Two large luxury SUVs are now sold for each large luxury sedan, Audi reckoned.

Mercedes-Benz brand used the Los Angeles show to debut an example of a third trend. The new generation of the Mercedes CLS coupe joins the Audi A7 and the Porsche Panamera in a stable of large, premium, sporty fastbacks. Not to be outdone, BMW is displaying a large, sleek coupe of its own, the 8 Series. — Reuters

Golf World Cup returning to Melbourne

SYDNEY — The World Cup of Golf will be held in Melbourne for a third consecutive time in 2018, organizers said Tuesday, with 28 teams teeing off at the Metropolitan club.

US PGA Tour Commissioner Jay Monahan said it was a no-brainer to bring the tournament back to the region’s famed Sandbelt courses.

“Golf in the Sandbelt region speaks for itself, and we appreciate the Metropolitan Golf Club opening its doors for this historic team event,” he said.

Denmark will be defending their title after Soren Kjeldsen and Thorbjorn Olesen proved the perfect blend of flamboyant youth and wily experience for a shock triumph in 2016.

Twenty-eight two-man teams will represent their countries from Nov. 21-25 for the 59th edition of the tournament — the only event in which top golfers come together and compete for their countries outside of the Olympics.

The highest-ranked player from each country is able to choose his playing partner, which organizers say “maximizes the camaraderie and competitive spirit.”

It will continue with the same format from 2016, with the first and third days of competition played as four-ball (best ball) format and the second and final days as foursomes (alternate shot) play. — AFP

Agri exporters urged to target Russian market

THE GOVERNMENT said exporters — especially those in the agriculture sector — should set their sights on Russia where the opportunities for expansion are promising, a trade official said.

The head of the Philippine Trade and Investment Center’s London office and commercial attache Anne Marie Kristine C. Umali said on Tuesday during the National Export Congress in Pasay City that President Rodrigo R. Duterte’s pivot to non-traditional trade partners provides exporters with opportunities in new markets. 

“I’ve been to St. Petersburg and Vladivostok. There are vast opportunities. In fact, just last night, a buyer was looking to source coconut products. There are other opportunities for fresh pineapple and banana and others,” she added.

In October, the Department of Agriculture and its Russian counterpart signed a deal involving Russian purchases of agricultural products worth $2.5 billion. Last month, the Philippines and Russia also signed eight agreements related to trade and energy.

Ms. Umali said that as of 2016 Russia is 33rd in terms of total trade with the Philippines — the 39th largest export destination and the 32nd largest source of imports.

“I’d also like to note that total trade with them is only $234 million. There’s really a lot of room to grow,” she added.

She said the opportunities are also pressing due to the sanctions regime in 2014 which restricted food imports from the US, the European Union and selected countries.

“Just to note, we [also] have a GSP — generalized system of preferences — that exporters can also take advantage of. We have a Euro-Asian economic community (EuAsEC)… [This means] zero to reduced tariff rates [for selected products],” she added.

The GSP from EuAsEC  became effective in 2010, with the Philippines being one of the 103 developing countries that are beneficiaries of the program.

Some of the products which qualify for little to no tariffs are meat and seafood, dairy products, vegetables, fruits and nuts, coffee, tea, spices, rice, sauces and condiments, medicaments, natural rubber, wood products and imitation jewelry. — Anna Gabriela A. Mogato

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