Invest Daily Pro
  • Economy
  • Investing
No Result
View All Result
  • Economy
  • Investing
No Result
View All Result
Invest Daily Pro
No Result
View All Result
Home Top News

E-TRACC exemption sought for exporters — Trade dep’t

by
October 10, 2024
in Top News
0
E-TRACC exemption sought for exporters — Trade dep’t
0
SHARES
9
VIEWS
Share on FacebookShare on Twitter
PHILIPPINE STAR/EDD GUMBAN

EXPORTERS should be exempt from the Bureau of Customs’ (BoC) Electronic Tracking of Containerized Cargo (E-TRACC) system, the Department of Trade and Industry (DTI) said, noting that the industry already tracks its shipments.

Export Marketing Bureau Director Bianca Pearl R. Sykimte said that discussions on exempting exporters have been elevated to the Economic Development Group, which is co-chaired by the Secretaries of Finance and the National Economic and Development Authority (NEDA).

“We are still coordinating with BoC on identifying what data can (fulfill) the agency’s requirement for monitoring,” Ms. Sykimte said on the sidelines of the Philippines-Korea Business Forum on Monday.

“The discussion is about how we can integrate the monitoring requirements of BoC with the monitoring mechanisms in place,” she added.

Ms. Sykimte, who is also the executive director of the Export Development Council, said: “Most of what we export are really intermediate goods” whose local use is limited, she said.

“We also inquired from the BoC if there are deviations from the point of origin to the destination, and they said there were none,” she added.

She said there is a strong case to waive the requirement for exporters. 

“We think that it might be more restrictive than necessary to achieve the public policy objective,” she said.

However, she said that the DTI is open to a “risk-based assessment given that there were no deviations recorded by the BoC and that the shipments of our exporters are covered by their contractual obligations to their buyers.” 

Launched in 2020 via Customs Memorandum Order No. 04-2020, the E-TRACC system enables real-time monitoring of inland movements of containerized goods.

Using GPS-enabled tracking devices, the system ensures the secure transport of goods by deterring diversions and tampering.

In July 2022, the BoC ordered the full implementation of the E-TRACC system on all containers processed with no exception.

Earlier this year, the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) sought a waiver for electronics exporters.

According to SEIPI President Danilo C. Lachica, the system is redundant and will cost exporters P1 million to P2 million on top of rising logistics costs. — Justine Irish D. Tabile

ShareTweetPin

Related Posts

Marriott, Flutter, Coca-Cola among stocks poised to gain from FIFA World Cup 2026
Top News

Marriott, Flutter, Coca-Cola among stocks poised to gain from FIFA World Cup 2026

June 11, 2026
FTSE 100 edges higher as investors balance financial recovery and AI risks
Top News

FTSE 100 edges higher as investors balance financial recovery and AI risks

June 11, 2026
SAP stock tumbles 3%: why Oracle’s AI capex surge is hitting software shares
Top News

SAP stock tumbles 3%: why Oracle’s AI capex surge is hitting software shares

June 11, 2026
Dow futures surge 370 points: 5 things to know before market opens
Top News

Dow futures surge 370 points: 5 things to know before market opens

June 11, 2026
Why Claude Mythos Preview is a wake-up call for Wall Street
Top News

Why Claude Mythos Preview is a wake-up call for Wall Street

June 11, 2026
SpaceX IPO’s valuation battle has bulls aiming share at $165 while bears see $63
Top News

SpaceX IPO’s valuation battle has bulls aiming share at $165 while bears see $63

June 11, 2026
Next Post
PSEi dips on profit taking as peso hits 2-month low

PSEi dips on profit taking as peso hits 2-month low

Recommended

August hot money inflows hit $534M

August hot money inflows hit $534M

October 1, 2024
Top Labour donor Dale Vince says rich fleeing capital gains tax raid can ‘f— off’

Top Labour donor Dale Vince says rich fleeing capital gains tax raid can ‘f— off’

October 29, 2024
Denmark’s CIP expects $30-M investment in PHL green energy by mid-2025

Denmark’s CIP expects $30-M investment in PHL green energy by mid-2025

September 11, 2024
Types of Artificial Intelligence Courses Gaining Traction Among The Student Community In 2024

Types of Artificial Intelligence Courses Gaining Traction Among The Student Community In 2024

September 1, 2024
Rachel Reeves urged to approach China talks with pragmatism

Rachel Reeves urged to approach China talks with pragmatism

December 5, 2024
CEB boosts stake in ground handling firm 1AV to 60%

CEB boosts stake in ground handling firm 1AV to 60%

October 29, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Chevron CFO reveals why gas prices are stuck 

    Chevron CFO reveals why gas prices are stuck 

    June 29, 2026
    Apple’s AI problem hits loyal customers, and iPhone could be next

    Apple’s AI problem hits loyal customers, and iPhone could be next

    June 29, 2026
    A former prison now welcomes guests as luxury hotel

    A former prison now welcomes guests as luxury hotel

    June 29, 2026
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2026 investdailypro.com | All Rights Reserved

    No Result
    View All Result
    • Home
    • Privacy Policy
    • Terms & Conditions
    • Thank you

    Copyright © 2026 investdailypro.com | All Rights Reserved