EU okays P240m grant for exporters

Manila Standard Today

May 26, 2005

 

EU okays P240m grant for exporters

Watch out Europe, here we come.

The European Union will turnover 3.5 m euros (approximately P240.8 million) to the Philippine government to improve the access of local products to the expanded EU market.

European Commission Ambassador Jan de Kok said the project, called Trade Related Technical Assistance, will greatly enhance the entry of Philippine products to the 25-nation bloc as well as help the Philippines meet its obligations to the World Trade Organization.

“This is really to help the Philippines in meeting its obligations under the WTO and to allow it to benefit fully from the opportunities in EU markets,” De Kok said in an interview with reporters.

The technical assistance comes on the heels of the country’s failure to meet the May 31 deadline set by the World Trade Organization for a revised market access list under the Doha Development Agenda framework.

Aside from increasing the compliance of the Philippine government in meeting technical barriers to trade and sanitary phytosanitary controls set by the WTO, the multimillion project also aims to assist the country in its economic governance reforms.

“There was a request for this from the Department of Trade and Industry and Neda and we gladly responded to them because we also like the Philippines to build their capacity in trade issues,” the diplomat added.

The Philippine government will also give a counterpart amount of 420,000 euros (P28.8 million) for the project. Joyce Pangco Pañares