PH initiates talks to resolve ‘tariff imbalance’
The Department of Trade and Industry (DTI) said the agency has initiated negotiations with Japan, Korea and Australia for lower tariffs for bananas.
DTI Secretary Ramon Lopez said in a news report that succeeding in these negotiations would bolster the volume of bananas exported to these markets.
The Philippines has been clamoring for Japan and Korea bring down their tariff rates on bananas to zero to 5 percent, a level granted to some banana-exporting countries.
High-value fruits like strawberry, persimmon and pear coming from Korea for example are now at this level but bananas shipped to Korea are levied a 25 to 30 percent tariff.
Japan still imposes a seasonal tariff rate on bananas at 8 percent while impising a n 18 percent rate on the fruit during peak harvest.