ECCP at Work

PHL-EU trade deal on track, DTI calls it ‘most comprehensive’ to date
The Philippines-EU Free Trade Agreement (FTA) is the “most comprehensive” trade agreement the Philippines has pursued to date, as it lays out modern trade priorities such as government procurement, energy and raw materials, among others, according to the international trade relations arm of the DTI.

PHL eyes P200-B RTB offer in Q3
The government is planning to raise P200 billion from its first retail Treasury bond (RTB) offering this year, which it could launch within this quarter, Finance Secretary Ralph G. Recto said.

CMEPA seen to boost PERA adoption among Filipinos
The Securities and Exchange Commission (SEC) expects more Filipinos to grow their retirement funds under the Personal Equity and Retirement Account (PERA) with the recent implementation of Republic Act No. 12214 or the Capital Markets Efficiency Promotion Act (CMEPA).

Customs extends validity of importer accreditation
The Bureau of Customs (BOC) is set to extend the validity of importer accreditations to three years from one year to streamline trade processes and reduce red tape.

DICT on Konektadong Pinoy Bill: Cybersecurity, oversight remain 'non-negotiable'
The measure, already approved by Congress, has been criticized for “loopholes” that may let foreign-controlled entities participate without adequate government scrutiny or robust safeguards against harmful players.

Agri damage climbs to P96.90M; some typhoon-hit areas regain power
The cost of damage to the agriculture sector due to the combined effects of Crising and the southwest monsoon has so far reached P96.90 million, according to latest data from the Department of Agriculture’s (DA) Disaster Risk Reduction and Management Operations Center.

Power supply normal post-Crising, says NGCP
Grid operator National Grid Corporation of the Philippines (NGCP) said the country’s power supply remained normal as no transmission facilities had been damaged following the onslaught of Severe Tropical Storm Crising.

External debt service burden rises to nearly $5B at end-April
The Philippines’ external debt service burden rose to nearly $5 billion at end-April due to higher amortization payments, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed.

PHL eyes zero tariffs on some US goods
The Philippines is open to lowering duties on selected imports from the US to zero as part of tariff negotiations with Washington, Finance Secretary Ralph G. Recto said. When asked whether the government might offer zero tariffs on US goods — similar to Vietnam’s approach, Mr. Recto replied: “Definitely.”

US tax to cut PHL remittance growth
The United States’ remittance tax could trim the Philippines’ remittance growth by 0.5 percentage point (ppt), the Bangko Sentral ng Pilipinas (BSP) said.

BIR raises floor price for cigarettes, vape products
The Bureau of Internal Revenue (BIR) said it increased the floor price for cigarettes and vape products. In a revenue regulation released on July 18, the BIR updated the floor prices for cigarettes, heated tobacco products and vaporized nicotine products.