FILE PHOTO of British Chamber of Commerce Philippines (BCCP) Executive Director and Trustee Chris Nelson:
British Chamber of Commerce Philippines (BCCP) Executive Director and Trustee, Chris Nelson explains the recent Executive Order (EO 171) signed by outgoing President Rodrigo Duterte extending lower tariffs for pork imports until the end of this year would lead to increased opportunities for British meat exporters.
The low pork tariff extension primarily focuses on imported pork that will remain at 15 per cent in quota from the original 30 and 25 per cent quota tariff rates for pork. In line with this, the BCCP conducted the PH-British Meat Trade Mission last 17th-19th May 2022 where nine UK beef and pork exporters were invited to increase exports and strengthen their long-term relationships with their Philippine counterparts.
According to Nelson, “British exports of pork to the Philippines are growing significantly. It’s up about 200% this year. And also I think this is a big win.”
Furthermore, Nelson also implied how the granted extension was a ‘very good’ move that will help on the meat inflation as well as open great opportunities for both British pork and beef in the country.
In terms of the Regional Comprehensive Economic Partnership (RCEP), the recent Senate hearing failed to reach a concurrence which led to the Philippines unable to become part of the said agreement. However, Nelson clarified how RCEP would still be a vital opportunity since it would be the largest free trade market.
However, he expects the incoming administration to resume the discussion and hopefully ratify the country’s membership to RCEP, as it would help boost the Philippine economy moving forward and become the gateway to Southeast Asia.