Tuesday, September 21, 2021

PH exporters urged: Sell to Russia

THE Department of Trade and Industry-Export Marketing Bureau (DTI-EMB) is encouraging Philippine exporters to sell to Russia and take advantage of its preferential tariffs under the Eurasian Economic Union Generalized System of Preferences (EAEU GSP).

“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 Perlada.

The Eurasian Economic Union (EAEU) 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.

Products covered by the EAEU GSP are eligible for a 25 percent discount on customs duties. These include food, furniture and industrial goods.

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.

In light of the Covid-19 pandemic, 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 itself of the preferential tariff. The exporter will be given six months from the date of registration of the declaration of goods to submit the original CO Form A to the customs authority.

Bilateral trade

In 2019, Russia was the Philippines’ 21st trading partner, 32nd export market and 18th import supplier. Exports to Russia increased by 18.81 percent from US$86.07 million in 2018 to $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.

Interested exporters can email for assistance and more information. (PR)


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