Philippine Biscuit Manufacturers Desire to Enter China
10 July 20131 min reading
The free trade area between the Association of Southeast Asian Nations (ASEAN) and China and the duties set to zero provides opportunities for Philippine biscuit manufacturers.
The free trade area between the Association of Southeast Asian Nations (ASEAN) and China provides opportunities for Philippine biscuit manufacturers, the Department of Trade and Industry of the Philippines (DTI) said over the weekend.
“In a way, the FTA opened doors to China. Now, we are more confident of entering China, which is a big market. Before, the duties were high but now it’s zero,” said Ferdinand T. Chanpongco, former head of the Biscuit Philippines cluster and export manager of Monde-Nissin Biscuit Philippines Corp., in a statement released by the DTI.
According to the Philippines National Statistics Office and the DTI, the Philippines exported $948,832 worth of biscuits, waffles and wafers to China in 2011. The ASEAN-China Free Trade Area (ACFTA), which entered into force on Jan. 1, 2010, allows for reduced tariffs between China and ASEAN member nations.
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