The Department of Trade and Industry said over the weekend exports to the European Union under the Generalized System of Preferences Plus (GSP+) hit €2 billion in 2017.
“We are pleased to hear of the significant increase of our exports entering the EU market through the GSP+. This trade preference has benefitted several communities in the Philippines and opened opportunities for our micro, small, and medium Enterprises. In the same manner, it has allowed our MSMEs to be more competitive in the local and foreign market,” said Trade Secretary Ramon Lopez.
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Total Philippine merchandise exports to the EU amounted to $8.4 billion in 2017, making the EU the third largest export partner of the Philippines.
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