Corruption can put Phl trade perks at risk - EU

Corruption is a key element that may affect the Philippines' eligibility to enjoy trade preferences under the European Union's Generalised Scheme of Preferences+ (GSP+), according to the EU's top diplomat in the Philippines.

- PIA LEE-BRAGO

In an interview during his visit to The STAR on Wednesday, Ambassador Massimo Santoro said there is a monitoring mechanism that looks at corruption and human rights and whether a country can maintain GSP+, amid a series of allegations of corruption, mismanagement and irregularities in government-funded flood control projects involving lawmakers and government officials.

"It is also an element, important to always keep into consideration, including both in the GSP framework and FTA framework," Santoro said when asked whether issues of corruption may affect the Philippines' GSP+, which is in effect until 2027.

GSP+ is a special incentive arrangement for sustainable development and good governance, which grants duty-free access to the EU market for two-thirds of tariff lines.