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Philippines
Canada has expressed preference for a free trade agreement with the ASEAN instead of one with the Philippines, dampening the hopes of some groups that a bilateral trade deal between the two countries will be forged.
The National Economic and Development Authority (NEDA) is pushing for the immediate ratification of the RCEP agreement to send a clear signal that the country is open to investments that will help generate more jobs.
The Philippines’ free trade agreement (FTA) with South Korea is inching closer to formalization with the initial signing of the economic pact seen within the next two weeks.
Philippines and the European Free Trade Association (EFTA) countries have agreed to push for more trade to improve utilization of the free trade agreement (FTA) stressing the FTA as a tool for economic recovery after the pandemic.
The Philippines and United Arab Emirates (UAE) signed an investment promotion and protection agreement (IPPA) on June 9, with the Trade department expressing an interest in tapping Dubai investment in agriculture and energy, among others.
The Philippines and Israel inked the investment promotion and protection agreement that includes investor-state dispute settlement.
President-elect Marcos’ has expressed uncertainty about the RCEP and suggesting that the government might need "to take another look at it."
The current Senate should defer further action on RCEP. President-elect Bongbong Marcos and the incoming Congress can then review the agreement and craft the country’s trade policy, consistent with an overall plan for the revitalization and competitiveness of Philippine agriculture.
US President Joe Biden has announced a new economic framework deal for Asia-Pacific designed to boost investment in clean energy infrastructure, drive decarbonisation efforts and strengthen regional supply chains.
Aside from the Philippines’ pending accession to the mega free trade deal RCEP, the government is also strongly pushing for the country’s participation in the CPTPP and the Indo Pacific Economic Framework.
After the graduation to a developing nation, Bangladesh may take the initiative for holding discussions with ASEAN countries to sign free trade agreement, Philippine Ambassador said.
The Department of Trade and Industry (DTI) remains hopeful that the Senate will concur with the Regional Comprehensive Economic Partnership (RCEP), the Asean-led free trade deal with its five free trade partners, this month.
The proposed ASEAN-Canada free trade agreement holds the potential to broaden Philippine goods’ access to North American markets, the Philippine Department of Trade and Industry said.
The Department of Trade and Industry (DTI) said the conclusion of negotiations with Canada for a free trade agreement (FTA) with the Association of Southeast Asian Nations (ASEAN) is expected to come some time after the Duterte administration steps down on June 30.
Philippines’ Department of Trade and Industry targets to conclude the trade and investment agreement with the United Arab Emirates
The Philippines is keen on continuing the US Generalized System of Preferences and having a free trade agreement with the world’s largest economy.
After New Zealand notified it would not recognize Myanmar’s “instrument of ratification” of the RCEP because it opposes its military-led government, the Philippines will reject Myanmar’s instrument of ratification as well.
The Philippines and United Arab Emirates are finalizing an investment agreement and will also launch Comprehensive Economic Partnership Agreement (CEPA) discussions.
The Senate bowed to the wishes of over 100 peasant organizations and 200 mayors of municipalities engaged in organic farm production. The senators deferred to May the chamber’s decision on whether to ratify or not the RCEP.
Local fish, pork and chicken producers formed a united front against the RCEP and urged the Philippine Senate to defer ratification of the "lopsided" international trade accord.
