Philippine GSP+ transactions up 71% in 2016 – ECCP

PHILIPPINE transactions under the generalized system of preference plus (GSP+) rose 71 percent in 2016, an official of the European Chamber of Commerce of the Philippines (ECCP) said.

“The GSP+ for 2016 went up to 1.7 billion euros and the utilization up 71 percent . . . because the overall exports from the Philippines to the world and to EU declined a bit, but the GSP+ went up. So, proportionally, that becomes bigger. And also what you see is a lot of agriculture products,” Walter van Hattum, EU Delegation head of economic affairs of the ECCP said on the sidelines of the Prosperity Summit 2017 late last week.