RP seeks lower import duties on farm products<\/p>\n
MANILA (Dow Jones): Philippine President Gloria Macapagal-
\nArroyo said Monday that her administration will push for
\nbilateral negotiations to reduce import duties on the country's
\ntropical fruit exports.<\/p>\n
Speaking before a private sector consultation at the
\nDepartment of Agriculture, Arroyo said the reduction of import
\nduties on the country's agricultural exports is one of the policy
\nreforms that the government will be pushing to spur growth in the
\nsector.<\/p>\n
Luis Lorenzo, chairman and chief executive order of Lapanday
\nHoldings Corp., one of the largest fruit exporters in the
\ncountry, said the move to lower import duties on farm products
\ncould in turn generate employment in the countryside.<\/p>\n
He said that if the government can open up the market to
\ndestinations with strict import requirements, such as Australia
\nand the U.S., it would be easy to create new jobs.<\/p>\n
Arroyo earlier vowed to generate 1 million jobs in the
\nagriculture sector within three years.<\/p>\n
Lorenzo said China, for example, imposes an official 25
\npercent import duty on Philippine bananas. However, an additional
\n17 percent duty on a base value of $242 a metric ton makes
\nPhilippine bananas in China less competitive compared to those
\nfrom other countries.<\/p>\n
Import risk analysis, or IRA, is being conducted by Biosafety
\nAustralia on Philippine bananas and pineapples.<\/p>\n
While both IRAs were filed in June last year, the IRA for
\npineapple is scheduled for completion in October while that for
\nbanana will be finished in July, 2001.<\/p>\n
The import risk analysis is a precondition for the entry of
\nthe Philippine fruit into the Australian market.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/rp-seeks-lower-import-duties-on-farm-products-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}