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)
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
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against serious violations of protocols of
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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