MANILA, Philippines – The Philippines is lagging behind other Asean countries in forging free trade agreements (FTAs) with total of 12, while Vietnam, Brunei and Indonesia have 14, 14 and 17, respectively.
Seven of the Philippines’ FTAs have already entered into force, while one is under negotiation and four are in the exploratory stage.
Indonesia has concluded eight FTAs. It is currently negotiating three free trade deals and is evaluating the feasibility of six planned FTAs.
Vietnam and Brunei, on the other hand, are implementing seven and eight free trade agreements, respectively.
These countries are conducting exploratory talks with four prospective FTA partners.
Meanwhile, Asia’ least developed economies such as Bangladesh (6), Sri Lanka (8), Cambodia (9), Myanmar (10) have fewer FTAs.
More countries are looking to freer trade to sustain domestic growth and rev up the fragile global economy by initiating free trade deals.
As of January 2011, the Asian Development Bank has identified 238 bilateral and plurilateral free trade agreements (FTAs) in Asia and the Pacific, an enormous leap from 54 signed in 2000. Aggressively pursuing these FTAs are the vibrant, export-oriented Asian economies in a bid to take full advantage of vast global opportunities by expanding export markets and strengthening ties with economic and development partners.
Singapore registered the highest number of free trade deals with over 35 free trade initiatives, 18 of which are already at their implementation stage. The country, Asia’s fastest growing economy in 2010 and world’s fifth richest economy by gross domestic product (GDP) per capita has nine free trade agreements that are under negotiation.
India, the world’s fifth largest market by GDP, came second with 33 free trade agreements, 11 of which are already in effect. South Asia’s most promising economy is currently considering inking nine more free trade pacts.
Other economies that are aggressively pursuing free trade deals are South Korea (28), Pakistan (26), China (25), Thailand (24), Malaysia (22), Japan (22) and Australia (21). (EHL)
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!
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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
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