Senator Franklin Drilon on Friday expressed serious concern over the economic backlash of the choice of the federal government to reject developmental aid from the European Union.

“I hope that the government has studied this thoroughly and carefully and is prepared to deal with the consequences of its decision,” he stated in a press release.

Drilon stated the transfer places in peril the nation’s inclusion within the EU’s Generalized System of Preferences

Plus (GSP+) which permits the exportation of greater than 6,000 of home produce to the bloc at zero tariff, together with the well-known tuna from General Santos
City.

The tuna business in addition to these merchandise having fun with zero tariff stand to lose thousands and thousands of pesos in case the GSP+ is terminated, the senator stated.

Total commerce between EU and the Philippines in 2015 reached 12.9 billion euros or roughly P704 billion, of

which 1.38 billion euros have been merchandise certified underneath GSP+ scheme, Drilon confused.

“While it’s the proper of any nation to simply accept or reject any grant from one other
nation or establishment, I don’t agree that the grants provided by the EU would
give it a license to intervene in our nation’s inside affairs,” he stated.

“We are simply being requested to stick to our treaty obligations and they didn’t come
from the EU however from the treaties that we have now signed and ratified,” Drilon added.

He additionally disputed the Malacañang’s declare that the EU was interfering within the nation’s inside affairs in change for a P13 billion grant.

“I am saddened by the decision. The EU has been reliable trading partner and their assistance, by way of grant or aid, extended to the country through the years, has been benefitting our people particularly those in the impoverished communities in Mindanao,” he stated.

Source: politics.com.ph