Metro Manila (CNN Philippines, April 28) – United Kingdom Prime Minister’s Trade Envoy to ASEAN Richard Graham is optimistic that the new trade scheme to be launched by the UK in the first week of June will benefit the Philippines.
In a media round table on Thursday, Graham said preparations are underway for UK’s Developing Countries Trading Scheme (DCTS).
Graham said the Philippines no longer needs to apply to join over 20 countries set to benefit from the trading scheme.
\”DCTS, which will go live this summer, is designed to reduce the cost of PH exports by about 10%,\” he told reporters.
The trade envoy added that they have conducted preliminary talks with some government agencies including the Department of Trade and Industry and the Department of Agriculture to explain the benefits of DCTS..
Graham said no pre-conditions will be imposed to countries joining the UK initiative.
\”It’s a unilateral offering; there is no reciprocity,\” he explained. \”We are not asking for any special favors from the Philippines. It will take effect without the Philippines not having to do at all, no negotiation.\”
Unlike its counterpart in the European Union or the EU Generalised Scheme of Preferences Plus (GSP+), there will be no periodic review of a country’s membership.
\”Under the GSP Plus everyone must renew it every year. If you join the DCTS you’ll be automatically renewed unless there is a particular problem so that’s good news,\” Graham noted.
The details of the list of items that will form part of the trading scheme will be out soon.
