Euro chamber backs lifting tariffs on basic food items

ABS-CBN News

Posted at Aug 08 2018 05:45 PM | Updated as of Aug 08 2018 10:08 PM

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MANILA – Removing tariffs on imported basic food items ensures an ample supply that could result in stable prices, the president of a European trade group said on Wednesday.

The Philippines "is not self-sufficient in most aspect of the food business" therefore it doesn’t make sense to continue putting restrictions, European Chamber of Commerce president Guenter Taus told ANC's Market Edge.

“Rice, fish, meat and whatever is not sufficiently available in the country should actually be zero-rated so at least there’s ample supply and then it keeps the prices at par,” he said. 

House Speaker Gloria Macapagal-Arroyo has urged President Rodrigo Duterte to issue an executive order that will reduce tariff on fish to ease inflation, according to her inflation "focal person" Albay 2nd Rep. Joey Salceda. 

Imposing tariffs in place of quantitative restrictions on rice imports was also one of the "vigorous" measures proposed to ease inflation, he said.