THE Philippine economy is poised for sustained and rapid inclusive growth with a trusted, credible and committed political leadership under President Aquino, an official of the Department of Trade and Industry (DTI) said.
Substantial reforms in government and institutions are well under way and will further deepen, strengthening the country’s overall competitiveness, Trade Undersecretary Adrian Cristobal Jr. added.
Cristobal, chairman of the Philippine Committee on WTO Matters, made the remarks in a report to the WTO Trade Policy Review (TPR) of the Philippines in Geneva, Switzerland, recently.
In the report, he said the Philippines would continue to pursue open and fair trade.
Market and product diversification, fostering innovation to move up the value chain, access to business opportunities and financing for small and medium industries, and trade advocacy and education campaigns about free-trade agreements will continue to be priorities, Cristobal added.
The TPR session on the Philippines provided members with overall picture of measures that made the country resilient against economic uncertainties.
Cristobal said the country’s agreements will continue to be priorities, Cristobal added.
The TPR session on the Philippines provided members with overall picture of measures that made the country resilient against economic uncertainties.
Cristobal said the country’s reforms did not come easy.
Hard disciplines, according to him, were imposed, cushioning the economy from adverse effects of powerful external shocks, while strengthening the country’s stability.
During the review period, the Philippine economy maintained a steady growth amid the global economic crises, oil-price shocks and natural disasters, Cristrobal said.
The country’s full potential could be realized through further reform efforts to improve infrastructure, the business environment and the tourism industry, he added.
“While the resilient Philippine economy registered steady, continuous and respectable growth in the past, this growth was not sufficient to eradicate poverty. External shocks and domestic political and governance issues made rendered high and equitable growth elusive,” Cristobal said.
He added that that the chronic problems that have plagued the Philippines are a thing of the past.
The President’s economic team foresees high and continuous economic growth of 7 percent to 8 percent in the coming years. (Jonathan L. Mayuga, Businessmirro)
World Day for Safety and Health at Work
“Safety and health at work every day!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
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Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
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Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
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Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
