‘Bali Package’ good for PH exporters

The Department of Trade and Industry expressed its optimism over the recently agreed “Bali Package,” which could benefit the country’s small and medium enterprises (SMEs), particularly exporters, through the Trade Facilitation (TF) agreement.

The TF agreement, one of the three pillars of the Bali Package, is aimed at lowering global trade barriers and is the first agreement reached through the World Trade Organization (WTO) that was approved by all its member-states. It stipulates reforms to promote transparency and efficiency in customs operations.