MANILA, Philippines – The Philippines is eyeing to obtain a General System of Preferences (GSP) status with Russia which would allow nearly 3,000 products from the Philippines to enter the Russian market duty free.
In a report from the Philippine Exporters Confederation Inc., Department of Trade and Industry (DTI) Export Marketing Bureau director and Export Development Council executive director Senen Perlada said Russia is now seen as a very important market among exporters in the Philippines.
“We have not done too much with Russia. Russia can actually offer GSP to the Philippines but the Philippines is not able to enjoy anything because there are certain administrative things we have to take care of to be able to avail of GSP benefits from Russia,” he said.
Russia’s GSP covers about 2,800 goods, which include meat, fish, fruits and vegetables, coffee, cocoa, rice, coconut oil and processed foods.
The current administration is looking to strengthen the country’s ties with Russia.
Last month, the Philippine government and Russia held discussions during the co-chairs’ meeting of the Philippines–Russia Joint Commission on Trade and Economic Cooperation (JCTEC) to forge closer economic cooperation and strengthen two-way bilateral trade and investment relations.