EU degraded-forest ban favors PHL coconut oil exports

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The story "EU degraded-forest ban favors PHL coconut oil exports" was covered 13 hours ago by Business Mirror, a news publisher based in Philippines.

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EU degraded-forest ban favors PHL coconut oil exports - Business Mirror

Quick Summary:

PHILIPPINE coconut oil exports can capture a larger share of the European Union (EU) market amid the 27-member bloc’s move to impose a ban on imported agricultural goods linked to forest degradation, according to the Department of Trade and Industry (DTI).

However, he emphasized that this regulation “should not discourage” the Philippines from having a free trade agreement with EU given the markets that would now become accessible to the country once such an agreement is formed.“It is up to the government now to ensure that we keep our end of the bargain,” he added.

Such regulations then will definitely affect negatively Philippine trade and the economy as the costs of the exports are now expected to rise.