Bizmen fear zero
tariff on imports
BY JUDY F. PARTLOW
Businessmen in Negros Oriental have expressed apprehension over the impending implementation of the zero tariff in 2015 under the Asian Free Trade Agreement.
Under the AFTA, a zero tariff may be imposed on imported products from neighboring Asian countries that are expected to flood the Philippine markets in 2015.
Ed Du, president of the Negros Oriental Chinese Chamber of Commerce and Industry, who attended the Small and Medium Enterprises Roving Academy of the Department of Trade and Industry in Dumaguete Wednesday, said businessmen are feeling threatened by the AFTA as the local markets are not ready yet to compete with foreign products.
Du, who cited sugar and its by-products, said that Thailand and Vietnam will offer stiff competition to local sugarcane planters and manufacturers since their production is subsidized by their governments.