The Export Development Council (EDC) in its Joint Council and Executive Committee Meeting on 20 January 2021, adjusted the export targets in the Philippine Export Development Plan (PEDP) 2018-2022. The new targets are US$91.7B in 2021 and US$105.3B in 2022.
The adjustments were recommended by the Export Marketing Bureau after a thorough review and simulation considering the world economic situation due to the COVID 19 pandemic, the assumptions of the Development Budget Coordination Committee (DBCC) and the data from the Philippine Statistics Authority (PSA).
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The Tourism Infrastructure and Enterprise Zone Authority (TIEZA) promotes the online release of the Travel Tax Exemption Certificate (TEC). This initiative makes it easier for the traveling exporter to get their TEC online.
Once TIEZA approves the online application, exporters can print the TEC at the convenience of their home or office. The following requirements are to be observed by exporters in applying for the online release of TEC:
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Continue reading “BOC upholds strict implementation of its Online Release System”
The Bureau of Customs (BOC) upholds the strict implementation of the Online Release System (OLRs) effective on 11 January 2021. It requires the proper format of the registry number when filling out the export Single Administrative Document (SAD) in the Electronic-to-Mobile (E2M) system. Clerical errors due to incorrect registry numbers indicated in the export declaration is subjected to a PHP 5,000.00 fine as stipulated under AOCG Memo 25-2021 ‘Guidelines on the Wrong Encoding of Registry Numbers in the Export Declaration in the E2M System’ in accordance with CAO 1-2020.
All shippers will be directed to observe the Verified Gross Mass (VGM) on all packed containers. The shipper will be responsible for obtaining and documenting the VGM of the packed container cargoes under the Philippine Port Authority (PPA) proposed revised guidelines on the implementation of mandatory weighing of export containers.
The shippers referred to in the revised policy is the “legal entity or person named on the bill of lading or sea waybill or equivalent multimodal transport document (e.g. “through” bill of lading) as shipper and/or who (or in whose name or on whose behalf) a contract of carriage has been concluded with a shipping company”.
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The Senate Bill No. 1357 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Bill, formerly known as Corporate Income Tax and Incentives Reform Act (CITIRA) was passed on its third and final reading by the Senate on 26 November 2020 with twenty out of twenty-one (20/21) senators voted in favor, and one (1) opposed.
Continue reading “Senate passes the CREATE bill on final reading”
The first virtual National Export Congress (NEC) 2020 underscores “Digitalization Boost: Invigorating Exports in the New Normal” as its theme this year. The recently concluded event was a success with a broader audience reach nationwide, having participated virtually by over a thousand participants via Zoom, Facebook, and YouTube on 03 December 2020.
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EDC lauds the pronouncement made by the Bureau of Customs (BOC) AOCG Deputy Commissioner Edward Dy Buco that stakeholders can expect enhanced trade facilitation with the Bureau in 2021. He added that the Commissioner assures its support towards export growth by prioritizing export-related activities in the Bureau’s 10-Point Priority Program for the upcoming year.
Continue reading “BOC mandates onboarding of TRGA’s to TradeNet by March 2021”
In partnership with the Department of Trade and Industry – Export Marketing Bureau (DTI-EMB) and the International Trade Centre (ITC) virtually launched the first-ever SheTrades hub in Asia held on 03 December 2020. The Shetrades hub seeks to connect three million PH women entrepreneurs to the global market by 2021 and provide women entrepreneurs and women-owned Small and Medium Enterprises worldwide with a unique network and platform to connect to the global markets.
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The Philippine Cold Chain Roadmap has been launched with the primary objective “to guide the industry in the coming years and adapt to the “new normal” situation.”
This is the offshoot of the collective efforts made by various industry stakeholders that started in 2019. The Board of Investments (BOI) together with the Cold Chain Association of the Philippines, Inc. (CCAP) and Department of Agriculture (DA), other concerned government agencies, and private individuals collaborated to showcase the following: where the industry is at present, where the industry would like to go, and what are the plans to get there to sufficiently meet local demand and customer requirements and empower the industry.
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ASEAN-Japan Centre (AJC) Secretary-General Fujita Masataka reported that many countries had felt disruptions of supply chains in this time of the pandemic. Hence the series of calls at the international and regional level for strengthening and rebuilding of value chains such that of the G20 Actions to support world trade and investment in response to COVID19 on 14 May 2020, and the Hanoi Plan of Action on Strengthening ASEAN Economic Cooperation and Supply Chain Connectivity in Response to the COVID19 pandemic on 19 June 2020.
Continue reading “ASEAN-JAPAN Centre underscores the need to strengthen Global Value Chains (GVCs) towards resilience”