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Export Boost is to be expected from the recently signed Regional Comprehensive Economic Partnership (RCEP). It will broaden trade in goods and services, deepening economic integration among the 10 Southeast Asian countries, South Korea, Japan, Australia, and New Zealand. By far, this is the world’s largest trading agreement bloc covering 30% of the global economic output in the coming years.
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The Bangko Sentral ng Pilipinas (BSP) is working with banks on the standardization of the Micro, Small and Medium Enterprises (MSME) loan application process. BSP is also developing the concept note and draft standard loan application form. This initiative aims to streamline/ lessen the requirements of financial institutions and provide more access to MSMEs.
In a press release by the BSP, it has allowed loans to large enterprises and MSMEs to be considered banks’ alternative reserve compliance until end-2022 to help companies affected by the pandemic. Consequently, loans that are guaranteed by the Philippine Guarantee Corporation, the Agricultural Guarantee Fund Pool (AGFP), and the Agricultural Credit Policy Council (ACPC) were assigned a zero percent credit risk weight. This move is meant to encourage banks to lend to small farmers and fisherfolk.
The legislation creating the Philippine Transportation Safety Board is nearing enactment after hurdling the House Appropriation Committee on Wednesday, 18 November 2020. The bill was previously approved jointly by the Transportation and Government Reorganization Committees. The Senate has earlier approved its version on the third and final reading.
The PTSB shall be a non-regulatory and autonomous agency attached to and under the general supervision of the Office of the President. It shall be the primary agency responsible for the conduct of impartial investigation on transportation-related accidents and incidents. The main
objectives of the PTSB are (a) to improve transportation safety measures that will help in the prevention of transportation accidents and mitigation of dangers to human lives and property, and (b) to ensure the implementation of transportation safety standards.
Exporters were given tips on how to save up and manage their freight cost in the recently conducted forum of the Center for International Trade Expositions and Missions (CITEM) as a part of the capacity and community building activities for FAME+. CITEM Executive Director Ms. Pauline Suaco-Juan stated that one of the prevailing issues that exporters face is the shipping cost. Speakers of the said forum provided the necessary information to help exporters in navigating costs and consolidation in shipping.
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The Department of Trade and Industry-Export Marketing Bureau (DTI-EMB), Export Development Council (EDC) and the Philippine Exporters Confederation, Inc. (PHILEXPORT) cordially invites all exporters, small and medium enterprises (SMEs), government policy makers, trade support institutions, the academe, and international organizations and other relevant stakeholders to save the date and participate in this year’s first virtual National Export Congress (NEC) 2020 on 03 December 2020, 8:00AM to 4:30 PM via Zoom with the theme “Digitalization Boost: Invigorating Exports in the New Normal”.
The Philippine Ports Authority (PPA) presented their proposed arrastre, stevedoring, and storage rates for out-of-gauge (OOG) cargoes, and arrastre rates for empty foreign containers during their 1 October 2020 public hearing.
The proposed OOG rate will be using the multiplier factor of 3. Meaning, for the existing arrastre fee of a 20-foot container amounting to Php 3,516.00, the proposed OOG rate will be Php 10,548.00.
Continue reading “PPA proposes rates for out-of-gauge cargoes and foreign empty containers”The Anti-Red Tape Authority (ARTA) launched Program NEHEMIA for the Logistics Sector, making it the third sector launched among the five identified sectors under the program.
ARTA’s Program for National Effort for the Harmonization of Efficient Measures of Inter-Related Agencies (NEHEMIA) is a sectoral-based streamlining effort aimed to reduce time, costs, requirements, and procedures in the government sector. One of the five identified sectors is the logistics sector, along with the common towers and interconnectivity sector, the housing sector, the food pharmaceutical sector, and the energy sector.
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The ASEAN Wide Self Certification Scheme (AWSC) allows exporters, who have proven their competence, to be eligible for the preferential treatment under the ASEAN Trade in Goods Agreement (ATIGA) through self-certification. As such, application of the Certificate of Origin (CO) Form D is no longer required once an exporter qualified the Certified Exporters (CE) status. However, e-Form D and paper-based Form D will still be used by the exporters who have not acquired the CE status. This will bring practical benefits, reducing cost and shipment delays, in processing export cargoes even during non-work hours and weekends.
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PCCI successfully held its first-ever virtual Business Idea Development Award or BIDA Award on 21 and 23 September 2020 with the theme: “Business Resiliency through Innovation and Entrepreneurship”. The competition usually is face-to-face, where students were to present their business plans before a panel of meticulous judges. Thanks to technology, the event pushed through via zoom, an online platform. From their homes’ comfort, the student-contestants with their coaches virtually defended their presentations to the judges, including the Q & A portion.
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