Philippines Retains Preferential Tariff Status Under EAEUThursday, November 18, 2021
The Philippines continues to enjoy lower tariffs when exporting certain products to member states of the Eurasian Economic Union (EAEU). The EAEU, which includes Russia, Belarus, Kazakhstan, Kyrgyz, and Armenia, retained the Philippines among the developing beneficiary countries subject to preferential tariffs under its Generalized System of Preferences (GSP) since October 12.
In an earlier statement, the Department of Trade and Industry-Export Marketing Bureau said products covered by the EAEU GSP are eligible to a 25-percent discount on customs duties. These include food, furniture, and industrial goods and food products that include meat, fish, fruits, coffee, cacao, coconut products, sauces, and condiments. Furniture, gifts, and houseware in the list are articles of wood, basket ware, artificial flowers, statuettes, ceramics, and imitation jewelry. Also included are industrial goods like natural rubber.