The ATA Carnet, also known as the “Passport of Goods,” is finally slated for implementation on 15 July 2024. This long-awaited development will allow exporters to enjoy tax-free and streamlined temporary admission of goods into member countries. Continue reading ATA Carnet implementation slated in July!
Philippine Exporters Prepare for EU’s New Carbon Border Rules
Exporters attended a session on the European Union’s (EU) new Carbon Border Adjustment Mechanism (CBAM), which charges for carbon emissions in the production of goods entering the EU, while also encouraging cleaner industrial production in non-EU countries.
CBAM experts emphasized discussions focused on how this regulation could impact the competitiveness of Philippine exports in the EU market, particularly for goods exports such as chemicals, plastics, steel, iron, aluminum, fertilizers, cement and similar materials. Continue reading Philippine Exporters Prepare for EU’s New Carbon Border Rules
Philippines Shines with 5.7% GDP Growth: Exports and Key Sectors Lead the Surge
The Philippines’ latest gross domestic product (GDP) grew by 5.7% in the first quarter of 2024, led by gains in financial and insurance, wholesale and retail trade, and manufacturing sectors. The services sector rose by 6.9%, industry and agriculture, forestry, and fishing sectors by 5.1% and 0.4%, respectively.
Continue reading Philippines Shines with 5.7% GDP Growth: Exports and Key Sectors Lead the Surge
DTI Inks Tatak Pinoy Act IRR to Boost Filipino Products and Services Globally
On May 22, 2024, the Department of Trade and Industry (DTI) Secretary Alfredo E. Pascual along with Senator Juan Edgardo “Sonny” Angara, the conceptualizer and author of the Act and other notable signatories signed the Implementing Rules and Regulations (IRR) for Republic Act No. 11981, also known as the Tatak Pinoy (Proudly Filipino) Act. This legislation aims to support and promote Filipino-made products and services globally.
The IRR provides a detailed framework outlining the roles and responsibilities of partnered industries. It focuses on key areas such as human resources, infrastructure, technology and innovation, investments, and sound financial management to ensure the act’s effective implementation.
The IRR was drafted by the DTI-Competitiveness and Innovation Group (DTI-CIG), led by Undersecretary Aldaba and Assistant Secretary Baluyut, in partnership with the United States Agency for International Development-Regulatory Reform Support Program for National Development (USAID-RESPOND), which provided technical support.
For more information on the Tatak Pinoy Act, please contact the Tatak Pinoy Council Interim Secretariat at TatakPinoy@dti.gov.ph. JVL
EDC and BOC Strengthen Collaboration to Streamline Customs and Boost Trade
The Export Development Council (EDC) has bolstered its collaboration with the Bureau of Customs (BOC) and its consultative bodies, the Central Customs Industry Consultative and Advisory Council (CICAC) and BOC – Ninoy Aquino International Airport (NAIA) CICAC, to streamline customs processes and enhance partnerships between the government and private stakeholders. CICAC acts as a bridge between the BOC and the business-industrial sector, addressing customs and industry-related issues, promoting mutual understanding, and strengthening relationships. Continue reading EDC and BOC Strengthen Collaboration to Streamline Customs and Boost Trade
SBCorp Unveils Dynamic Loan Programs to Empower Filipino MSMEs and Boost Economic Growth
The Small Business Corporation (SBCorp), the financing arm of the Department of Trade and Industry (DTI), offers a variety of programs and services to support Micro, Small, and Medium Enterprises (MSMEs) in the Philippines. These programs include:
Continue reading SBCorp Unveils Dynamic Loan Programs to Empower Filipino MSMEs and Boost Economic Growth
Revitalizing Supply Chains: DTI’s Strategic Roadmap for a Thriving Philippines
Undersecretary Mary Jean Pacheco addressed the Logistics Summit 2024, outlining key Supply Chain and Logistics Issues in the Philippines, such as Infrastructure, Skills, Land, Sea, Air, and Digitalization. The Department of Trade and Industry (DTI) responded by launching initiatives to (1) Ensure accessible and affordable food, (2) Implement targeted interventions for priority industries, and (3) Foster industries meeting domestic demand.
To tackle food accessibility and affordability, DTI devised a Three-Year Food Logistics Action Agenda, endorsed in August 2023. This agenda focuses on optimizing food distribution, reducing transport costs, enhancing logistics infrastructure, and strengthening enforcement against malpractices. It also emphasizes leveraging ICT for efficiency.
Continue reading Revitalizing Supply Chains: DTI’s Strategic Roadmap for a Thriving Philippines
Introducing HOFFA: Revolutionizing Freight Forwarder Accreditation
The Department of Trade and Industry (DTI) and its partnered agencies are advocating for the establishment of a unified accreditation system for air and sea freight forwarders, known as Harmonized Online Freight Forwarding Accreditation (HOFFA).
DTI Undersecretary Mary Jean Pacheco mentioned that 90% of the system has already been completed, with the remaining 10% focused on tasks like data migration and aligning reports.
Continue reading Introducing HOFFA: Revolutionizing Freight Forwarder Accreditation