- About bilaterals.org
- How to participate
- Key issues
- Texts of agreements
RP prepares for possible trade accord with US
29 July 2005
RP prepares for possible trade accord with US
By NIEL V. MUGAS, The Manila Times Reporter
Baby steps have begun in engaging the United States on a possible trade pact, the trade department said in a report to President Arroyo.
Trade Secretary Peter Favila on Friday said the Philippines will begin preparations for a possible free-trade agreement (FTA) with the US, including a study on the continued viability of local industries under a zero tariff environment.
Favila said his report to Malacañan cited the Department of Trade and Industry is holding preparatory steps to start talks over a possible trade accord with the US, the country’s second largest trading partner.
Japan, the Philippines’ biggest export market and the biggest donor of overseas development assistance is the country’s biggest trading partner. A bilateral trade agreement with the said nation is already under way.
Favila said DTI’s steps responds to the American government’s long standing offer for both countries to sit in the negotiating table.
Favila said the DTI will consult industry representatives on the impact of a zero-tariff deal with the US and their willingness to enter such deal. He added these talks will be based on a study by the Philippine Institute for Development Studies (PIDS), which covers impact analysis on the general economy as well as on specific sectors, following the renewed interest of the US government.
Favila said these consultations are important for an RP-US FTA negotiation to gain ground.
"We’ll identify the necessary structural adjustments to ensure that our industries remain competitive in an FTA environment," he added.
Annual bilateral trade between the US and the Philippines exceeds $18 billion and cumulative direct private investment is at $3.5 billion. It is also a top destination of Philippine exports and is the Philippines’s second source of imports. In 2002, two-way RP-US trade amounted to $15.06 billion.
The Philippines continues to enjoy a favorable balance of trade with the US, registering a trade surplus of 42.30 billion last year.
In the investment arena, Central Bank figures show that US foreign direct investments (FDI) in the Philippines by the end of 2002 were valued at $3.3 billion, or 22 percent of total FDI.
bilaterals.org and a new ISDS (investor-state dispute settlement) platform to be hosted at bilaterals.org seek to hire a coordinator for their work. This is a great opportunity for someone interested in working on a full-time, paid basis to support people’s struggles against so-called free trade and investment deals globally, through a job share for two separate but complementary projects.
Find out more.
News from the movements
31-Jul-2015 MiningWatch CanadáOrganizaciones de la sociedad civil reciben con satisfacción el anuncio que Infinito Gold desistirá de su tortuosa intención de construir una mina en Costa Rica a pesar de la clara oposición del pueblo costarricense y los repetidos fallos en su contra.
31-Jul-2015 ZDNETNegotiations for the Trans Pacific Partnership Agreement appear likely to undo New Zealand’s ban on software patents, showing "how disconnected the government and the negotiators are from the interests of New Zealanders."
31-Jul-2015 ScoopA legal challenge to the secrecy of the Trans-Pacific Partnership Agreement negotiations will be launched in the High Court of New Zealand next week.
30-Jul-2015 The Associated PressAbout 400 protesters blew conch shells on a Hawaii beach to demonstrate against a trade agreement being negotiated by ministers from 12 Pacific Rim nations.
29-Jul-2015 Center for International Environmental LawA coalition of environmental and fair trade organizations are protesting the inclusion of language in the “Customs bill” in the US Congress that would explicitly prevent the United States Trade Representative from seeking to address climate change in trade agreements.
28-Jul-2015 Maui NowA coalition of advocates for the environment, labor, health and native Hawaiians will gather on Kāʻanapali Beach, outside the negotiators’ hotel, to speak out against the Trans-Pacific Partnership.
27-Jul-2015 APWLDAsia Pacific Forum on Women, Law and Development have prepared a toolkit for groups that want to join the struggle against the Trans-Pacific Partnership.
25-Jul-2015 Malaysia KiniAs the negotiations for the Trans-Pacific Partnership Agreement (TPPA) enter what could be its last round, we as people living with HIV/Aids (PLHIV), urge the Malaysian government not to trade away our lives.
bilaterals.org is a collaborative space to share information and support movements struggling against bilateral trade and investment deals which serve corporations, not people. Multilingual. Global. No one owns it. Open publishing. Get involved.