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.
RCEP is a “modern and comprehensive type of FTA,” said the Department of Trade and Industry (DTI) Secretary Ramon Lopez. “…RCEP will cover a lot more areas, not just trade in goods but also in services, investment, intellectual property, micro-SME, e-commerce. New items are now included in the RCEP, better market access for automotive cars, garments, electronics, and even for services such as legal accounting and engineering…” he added. Continue reading Export boost expected from the Regional Comprehensive Economic Partnership
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.
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.
Ms. Marilyn Alberto of the Philippine Multimodal Transport and Logistics Assoc., Inc. (PMTLAI) said that the law of supply and demand affects airfreight pricing especially at this time of pandemic as flight frequency has been reduced. Following are some tips given by Ms. Alberto to ensure efficient shipping by air amid challenges:
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 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.
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.
The Environmental Management Bureau (EMB) of the Department of Environment and National Resources defers the implementation of the General Effluent Standards (GES) under DAO- 2016-08. Said standards applies to all point sources of pollution, regardless of volume, that discharge to receiving body of water or land and shall be used regardless of the industry category.