PHILIPPINES: Government Cuts Textile Export Quotas
The Board of Investments (BoI) is to allow textile exporters to reduce export commitments to give them time to adjust to new rules laid out by the Garments and Textile Export Board (GTEB). The BoI, however, stressed that this would be done only on a case-to-case basis. BoI rules state that local firms that seek incentives should be able to export at least 50 per cent of its goods. The requirement is 70 per cent for foreign companies.
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