The latest U.S. Meat Export Federation (USMEF) Report discusses the recent announcement by Philippine officials that the country expresses interest in pursuing a free trade agreement (FTA) with the European Union (EU), with hopes to launch formal FTA negotiations early next year.

In the report, Joel Haggard, USMEF senior vice president for the Asia Pacific region, explains how this agreement could impact the U.S. export market.

“The Philippines is our largest red meat export market in Southeast Asia, with total beef and pork shipments last year amounting to roughly $150 million,” Haggard said, “But we believe that the Philippines holds significant additional potential for US producers and exporters.”

Haggard also explains that this specific market is extremely competitive and price-sensitive, and that because the Philippines maintains relatively high duties on imported meat, a free trade agreement could provide European pork suppliers with a significant price advantage in the Philippines.

Listen to the full report here:
USMEF Report-Philippines-EU FTA Potential