The Federation of the European Sporting Goods Industry, Fesi, expressed satisfaction at the European Parliament's approval of a proposal by the European Commission to grant GSP+ status to the Philippines from Dec. 25. This will lead to the elimination of import duties on some 6,274 products, giving European companies new options for quality sourcing. It will be particularly beneficial for importers of bicycles and related parts. Imports of bikes into the EU from the Philippines grew by 28 percent to 433,000 units in the first six months of 2014, and Shimano is set to start up a new factory for bike components in the country early next year.

Topics