RP in EPA talks with EU

MANILA, Philippines – The Philippines is in the process of negotiating its second bilateral economic partnership agreement (EPA), this time with the European Union (EU) in an attempt to beef up trade and attract more European investors to come to the country.

In an interview yesterday, outgoing Trade Secretary Peter B. Favila said government has conducted initial talks with their EU counterparts regarding a possible EPA. “We are in the process of consultation.”

Favila said, he has sent DTI special representative to Geneva Jose Antonio Buencamino to Brussels for talks scheduled March 10 to 13.

Favila said it is necessary to enter into EPAs with other nations in order to foster better trade relations especially since our neighbors Singapore, Malaysia and Thailand are in advanced stages of their own EPAs with the EU.

He said the initial talks were between EU and the Association of South East Asian Nations (ASEAN). However, Favila said he is under the impression that the EU did not want to enter into an agreement that includes Myanmar given that country’s political situation.

This is only the second time that the Philippines will enter into a bilateral agreement. The first was the Japan Philippine Economic Agreement (JPEPA). The ratification of the JPEPA encountered problems as senators questioned the constitutionality of the agreement.

In order to avoid long discussions on the ratification of the Philippines-EU EPA, Favila said he has proposed that lawmakers be part of the actual trade negotiations. Favila said he has already spoken with Senators Edgardo Angara, Miriam Santiago, Juan Ponce Enrile and Joker Arroyo.

He said the senators agreed to be a part of the talks so that the ratification will be easier this time around. However, in spite of these measures Favila said he is certain that it will take time before this EPA is in place.

“Based on the experience we had with JPEPA, we’ve already asked some members of the Senate and Congress to be a part of the negotiating team,” Favila explained.

Even then, Favila said they still expect to encounter some resistance from some sectors. “But we will not compromise our sovereignty. We will also provide safety nets in order to protect our local industries,” Favila said.

The European Chamber of Commerce in the Philippines (ECCP) has been pushing for an EPA. ECCP executive vice president Henry Schumacher said the EU wanted an EPA but the Philippines did not seem keen on pursuing it.

“I don’t think we are getting that response we wanted,” Schumacher said. “We want to see the Philippine government in active discussions with the EU to create more access points from both directions.  –Ma. Elisa P. Osorio (The Philippine Star)