EU move to boost PH fishing targets

Lifting of the yellow card issued to the Philippines by the European Union in connection with measures to fight illegal fishing is a big boost to the country attaining its inclusive growth objectives in the EU-Generalized System of Preferences Plus (GSP+), according to a senior trade official.

“It [lifting of yellow card] will allow us to maximize the inclusiveness of the GSP Plus because it will benefit sectors particularly those in Mindanao where the preference margins are really high. For some products, it can go as high as 29 percent that will be the preference margin,” Department of Trade and Industry Assistant Secretary Rodolfo Ceferino told reporters during an interview in Baguio City over the weekend.