Adoption of the World Trade Organization (WTO) Trade Facilitation Agreement (TFA) and the Philippines Customs Modernization and Tariff Act could reduce trading costs by as much as 15 percent and help to reduce congestion at the port of Manila, according to European Union Ambassador to the Philippines Guy Ledoux.
Ledoux made the comments during the “Trade Facilitation and Customs Modernization: making better use of trade and Agreements” forum organized by the EU Delegation to the Philippines and the Philippine Chamber of Commerce and Industry (PCCI) at the Manila Hotel on Thursday, as part of the 40th Philippine Business Conference being held from October 22 to 24.
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