China, India and Indonesia back PHL bid to extend rice import restriction

MANILA — China, India, and Indonesia have thrown their support to the Philippines’ bid to extend its quantitative restriction (QR) on rice imports until 2017 during a meeting of the World Trade Organization (WTO) Committee on Trade in Geneva, Switzerland.

The restriction will support local farmers against the deluge of cheap imported rice in the country. Rice is the only commodity in the Philippines that enjoy special treatment in the WTO.

Under its commitment with the WTO, the country imposes a minimum access volume of 350,000 metric tons at 40 percent duty while imports outside the MAV are levied a 50 percent duty. MAV is the amount of imports of an agricultural product that is allowed to be imported into the country at a lower duty than the out-quota customs duty.

" This outcome has reinvigorated and boosted the country’s efforts in pushing the initiative into positive conclusion by early next year”, DA Assistant secretary Romeo S. Recide, chief negotiator of the Philippines, stated.

Among the countries that are interested in negotiating with the Philipines on its campaign for QR extension are Australia, China, India, Indonesia, El Salvador, Pakistan, Thailand and Vietnam. The European Union, Japan and Korea have also backed the initiative.

The CTG will discuss the proposal in its next regular meeting in March wherein a general consensus on the issue is expected to be settled. (PNA)