Philippine exporters are encouraged to sell products to Russia and avail the preferential tariffs under the Eurasian Economic Union Generalized System of Preferences (EAEU GSP).
The preferential tariff will cut 25% on customs duties for certain products including food, furniture, and industrial goods.
“One of our strategies in expanding exports is to venture into non-traditional partners like Russia. Thus, we encourage exporters to maximize the benefits from the EAEU GSP,” said DTI-EMB Director Senen M. Perlada.
Food products 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. These products can also enjoy tariff preference in other EAEU member states.
Given the pandemic situation, the EAEU has allowed for the submission of an electronic or paper copy of Certificate of Origin (CO) Form A which the exporter needs to provide the Russian importer to avail of the preferential tariff. The exporter will be given 6 months from the date of registration of the declaration of goods to submit the original CO Form A to the customs authority.
In 2019, Russia was the Philippines’ 21st trading partner, 32nd export market, and 18th import supplier. Exports to Russia increased by 18.81% from US$86.07 million in 2018 to US$102.26 million in 2019.
Top exports consisted of industrial products like electronics, ignition wiring sets, activated carbon, new pneumatic tires, and watches as well as agricultural products such as desiccated coconuts, carrageenan, and other fruits and nuts. Bananas, avocados, mangoes, pineapples, and papaws are among the Philippines’ top fruit exports to Russia.
The Eurasian Economic Union is an international organization for regional economic integration. Its member-states are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, and the Russian Federation.