MANILA -The Philippines is pushing for the inclusion of its garment exports in the preferential trading scheme with the United States once it is renewed, as part of the government’s efforts to help the struggling local industry currently valued at around $1.5 billion annually.
Trade Secretary Alfredo Pascual said that the updated Philippine Export Development Plan, to be launched on Thursday, would include the goal of including the country’s garment exports in the US Generalized System of Preferences (GSP).
“We want our garments to be competitive in the US market by giving [this to] our producers here, our exporters here—putting them on a level playing field with garments from the Americas,” Pascual told reporters in a recent interview.
Pascual also said the garment industry is labor intensive and that adding it to the US GSP could boost its growth.
The Philippines’ eligibility to the US GSP had expired in 2020 but the country is pushing for renewal soon.
Trade and Industry Department reports that the program offers zero duty on 3,500 Philippine products, worth $1.6billion in 2020. Tires, bags, insulated conductors for electric appliances, sugar, nonalcoholic beverages, and hairdryers are among the local exports covered by this scheme. INQ
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