Only 50% of PHL Producers Tap FTA Areas
Only half of manufacturing enterprises in the country are aware of the free trade agreements (FTA) the Philippines has entered into, resulting in low utilization rate of the opportunities they are supposed to enjoy in these duty-free trading markets, initial results of a survey by the Department of Trade and Industry revealed.
DTI Assistant Secretary Rafaelita Aldaba said at a forum on “Global Value Chains, Industrial Policy, and SME Integration on GVCs: Transformation Strategies for More Inclusive and Sustainable Growth” the lower rates are due to lack of information, cost issues, and complicated rules in the free trade areas.
Source: Manila Bulletin