Philippines, EU Sign Trade Pact for Coconut Produc
6/2/2005 Manila Standard - Coconut and fish products from the Philippinesnow have a chance of getting market access in the 25 member-states of theEuropean Union bloc after the signing of a 3.5 million euros (P240.8million) bilateral agreement.
Foreign Affairs Secretary Alberto Romulo said the agreement will be usedto help the coconut and aquaculture sectors in hurdling trade and sanitaryphytosanitary (SPS) barriers imposed by EU countries.
Romulo and EU Commission Ambassador Jan de Kok formally signed theagreement entitled Trade-Related Technical Assistance at the DFA recently.
"The Philippine government greatly appreciates the role of the EU as theprime mover in advancing the TRTA as an important means to level theplaying field between the EU and developing countries like us," Romulosaid.
The EU currently is the fourth-largest trading partner of the Philippinesand is the second-largest market for local exports, accounting for about$6 billion of the country's total export products.
Aside from the relaxation of trade and SPS barriers, the EU will alsogrant speedy customs clearance for coconut and fish products from thePhilippines.
Both parties have begun identifying the areas where the EU will channelits resources as early as 2003.
The country will give a counterpart contribution of 70,000 euros in cashand 350,000 euros in kind.
The local agencies that will implement the project include the Departmentof Agriculture, the Bureau of Fisheries and Aquatic Resources, thePhilippine Coconut Authority, Bureau of Customs and Bureau of ProductStandards.
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