https://www.manilatimes.net/ph-considering-trade-agreement-with-turkey-dti/435348/
https://www.philstar.com/business/2...rential-trade-deal-turkey#L73a5bL2MJz7mXtb.99
The Philippines is eyeing a preferential trade agreement (PTA) with Turkey and looking at products that can be sourced from that country, the Department of Trade and Industry (DTI) said.
At the sidelines of the First Philippine Garment, Leather Goods Industries, and Fabric Expo in Pasay City recently, Trade Undersecretary Ceferino Rodolfo said the Philippine-Turkey Joint Committee for Trade, Economic, and Technical Cooperation discussed such a deal in a meeting earlier this year.
“During the meeting, it was discussed that we are open [to the PTA and]we would study it. They would also study it,” he added.
“Right now, we are seeing a good opportunity [here to source]certain strategic products.”
According to the Trade official, the PTA would lower the tariff on certain goods, including textiles—one product that the country is planning to source from Turkey.
“Their textile is really good. We will get the textiles from them (Turkey), make [garments out of them]here, and then export it to [Southeast Asia] and other countries,” Rodolfo said.
The country currently imports textile from China, South Korea, Indonesia, and Vietnam, he added.
In exchange, Turkey can source automotive parts and tropical products from the Philippines.
A PTA—which is limited to goods and less comprehensive than a free trade agreement—would be “strategic” for both Manila and Ankara, the Trade undersecretary said, but emphasized that talks on it were still exploratory.
“So far, we have not reached out to them after the meeting,” he added.
Rodolfo’s remarks came after Trade Secretary Ramon Lopez led a business delegation that traveled to Turkey in February and signed summaries of discussions on trade, investment promotions, and economic cooperation.
Lopez also signed a memorandum of understanding with Arda Ermut, president of the Investment Support and Promotion Agency of Turkey (Ispat), on the intention of both countries to exchange best practices and information on investment environment and opportunities.
https://www.philstar.com/business/2...rential-trade-deal-turkey#L73a5bL2MJz7mXtb.99
MANILA, Philippines — The Philippines is studying the possibility of entering into a preferential trade arrangement (PTA) with Turkey, a senior trade official said.
Trade Undersecretary Ceferino Rodolfo told reporters discussions to look into the possibility of having a PTA were brought up during the joint economic commission (JEC) meeting held between the two countries earlier this year.
“During the JEC, we discussed that we are open, we would study it. They also would like to study it. With what’s happening, let’s see,” he said, citing the current economic challenges in Turkey.
Turkey is facing economic difficulties at present, including the depreciation of the lira.
In addition, Turkey is reported to be facing deficits both in its fiscal and current accounts, as well as an inflation rate three times more than the central bank’s target.
While a PTA has a limited scope compared to a free trade agreement as it only covers goods, Rodolfo said such would be beneficial for both countries.
He said a PTA with Turkey would be strategic for the Philippines as the former can serve as a source of textiles which can be used by local manufacturers for garments to be exported to other markets.
While Turkey has good quality textiles, Philippine garment manufactures are currently not using such in production.
Instead, Philippine garment manufacturers get textiles from China, South Korea, Indonesia and Vietnam.
“It’s (Turkey) far and the market has not been developed on both sides,” Rodolfo said.
A PTA, he said, could bring down the tariff of Turkish textiles to zero from around 10 to 20 percent currently.
He said Turkey also stands to gain from a PTA as it can get products from the Philippines.
In particular, he said the Philippines could provide automotive parts and tropical products to Turkey.