The Philippines should immediately pursue a bilateral free trade agreement (FTA) with the European Union (EU), as the country lags behind most of its Southeast Asian neighbors in negotiating for similar agreements, a think-tank of the Philippine Chamber of Commerce and Industry (PCCI) said. “Philippine business cannot continue losing out on trade and investment opportunities with EU, especially when projections indicate substantial Philippine gains from an FTA are forthcoming,” the Universal Access to Competitiveness and Trade (U-ACT) said in a paper titled “Merits to Philippine Business of Having a Bilateral Philippines-EU Free Trade Agreement (FTA).”
“Philippine business must consider the danger of being crowded out of the EU and other markets by the more preferential access of its competitors, given their greater number of concluded FTAs and ongoing FTA initiatives,” U-ACT said.
According to the think tank, Indonesia has already signed a partnership and cooperation agreement with EU in July while Singapore, Thailand and Vietnam are on advance stages of negotiations. Brunei and Malaysia also would soon start talks with EU.
“EU might no longer be interested in engaging the Philippines if one country has already signed with them with the same market as ours,” Donald Dee, U-ACT chairman and chief executive, said.
In addition, the Philippines should also not wait for Association of Southeast Asian Nations (Asean) to seal a deal for the whole region since Asean-EU FTA talks were stalled in May because of Myanmar’s poor human rights record.
But Gabriel Munuera Viñals, European Commission delegation to the Philippines head of political, economic trade and public affairs section, earlier said the Philippines and EU are “not yet on each others’ radars” in terms of trade and investments since the Philippines lacks enthusiasm in engaging EU for talks.
U-ACT’s study also said that through a possible FTA with EU, European firms in the country would be “encouraged to expand their business and [infuse] more investments in the country.” –Ben Arnold O. de Vera, Manila Times
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
