Trade

by Gregory Daco, the Daily Dose, Mar 1, 2017 Read the article here.

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By Czeriza Valencia (The Philippine Star), Feb 11, 2017 MANILA, Philippines – The country’s trade deficit widened to $24.927 billion in 2016 from $12.24 billion a year earlier as manufacturing and consumption-related imports outpaced exports, the Philippine Statistics Authority (PSA) reported yesterday.

by Anabel González, Senior Director, Global Practice on Trade and Competitiveness, World Bank Group, Feb 8, 2017 In the ongoing debate about the benefits of trade, we must not lose sight of a vital fact. Trade and global integration have raised incomes across the world, while dramatically cutting poverty and global inequality.

by E.J.C. Tubayan, Businessworld THE PHILIPPINES is gearing up to negotiate two big free trade agreements (FTA) next year, as countries under the Regional Comprehensive Economic Partnership (RCEP) approach a consensus on the partnership’s terms, and with trade talks with the European Union (EU) set to resume in the first quarter next year.

By Louella Desiderio (The Philippine Star), October 29, 2016 MANILA, Philippines – The Philippines has ratified the World Trade Organization’s Trade Facilitation Agreement (TFA) which seeks to make trading of goods easier through lower costs and streamlined procedures.

19 Jun 2016,http://www.newshub.co.nz/nznews/more-rcep-progress-needed—mcclay-2016061915#ixzz4C5hTZjiX Progress was made in Regional Comprehensive Economic Partnership talks in Auckland, says Trade Minister Todd McClay.

by Victor S. Saulon, Businessworld, April 30, 2016 THE Philippines and the European Free Trade Association (EFTA) signed a free trade agreement on Thursday after concluding two months ago the negotiations over a deal that is expected to boost the country’s strategic trade and economic partnership.

THE sweeping Pacific Rim trade deal now being debated would cover everything, from Vietnamese labor unions to copyright protections to trade in sockeye salmon. With the details having been released on Thursday, a furious dispute is expected in the US and some of the 11 other countries that negotiated it.

The Trans-Pacific Partnership Weighing anchor Negotiators agree on an ambitious trade deal, but opposition to its ratification is already fierce Oct 10th 2015 | From the print edition Timekeeper DONALD TRUMP, an American presidential candidate, denounced it as “a terrible deal”. Another, Hillary Clinton, does not think it meets “the high bar” that should be…

An official says nearly all outstanding issues have been dealt with, and that the negotiators are just completing details and reviewing the lengthy draft pact

When looking at the potential effects of a trade policy, trade economists tend to insist on the real income effects, often dismissing its unemployment effects as of second-order importance, whereas policymakers and the public at large tend to voice concerns about jobs gained or lost.

The Philippines will be able to export many of its products to the United States duty-free until 2017 under the Generalized System of Preferences (GSP) scheme.

Pacific trade talks expose the limits of economic modelling May 30th 2015 | From the print edition Timekeeper THE Trans-Pacific Partnership (TPP), a putative trade agreement, would ease commerce between America, Japan and ten other countries that between them account for two-fifths of global GDP. But how beneficial would it be to these economies? Advocates…

Regional trade deals aren’t as good as global ones but they are still beneficial AFTER years of missed deadlines, the coming months will be decisive for international trade talks. Much hinges on whether Congress gives the president “trade promotion authority” by waiving its right to reopen trade deals that have already been approved by America’s…

Negotiators from the 12 countries working on the Trans-Pacific Partnership (TPP), a deal to reduce tariffs on trade, meet in New York today. This is a meeting about a meeting: its purpose is to prepare the ground for ministers from the countries involved, who are expected to meet in March. There are stumbling blocks everywhere,…

Why a Services Trade Restrictiveness Index (STRI) Trade in services drives the exchange of ideas, know-how and technology. It helps firms cut costs, increase productivity, participate in global value chains and boost competitiveness. Consumers benefit from lower prices and greater choice.

MANILA, Philippines – The Department of Trade and Industry (DTI) is confident that the Philippines would be included before the end of the year in a trade scheme that would allow more goods to enter the European Union (EU) at zero duty.

MANILA, Philippines–The Philippines has begun making the necessary preparations to ensure that local exporters will be able to immediately tap the benefits of the European Union’s new Generalized System of Preferences (GSP) scheme, or GSP+. According to Trade Undersecretary Adrian S. Cristobal Jr., the government hopes that the European Parliament will hand down a favorable…

MANILA, Philippines – The European Commission (EC) is set to endorse the Philippines’ application to qualify for the Generalized System of Preferences Plus (GSP+), a scheme that would allow more goods to enter the bloc at zero tariff.

The growth of global commerce will pick up speed this year and next, says the World Trade Organization. Trade will grow by a “modest” 4.7% this year and by 5.3% in 2015, says the WTO.

The World Trade Organization (WTO) has cut its trade growth forecast for 2013 because of risks from the eurozone crisis and from greater protectionism. Global trade is now expected to grow by 3.3% this year, the WTO says, down from its earlier forecast of 4.5%.

The Philippines is the only country in Southeast Asia that is enjoying a surplus in trade in services, according to the Economic Insight: South East Asia report of the Institute of Chartered Accountants in England and Wales (Icaew).

PARIS, France – Pascal Lamy, head of the World Trade Organization (WTO), confirmed that growth in global trade would remain below 4% this year and urged governments against protectionism.

Department of Trade and Industry Secretary Gregory Domingo has expressed optimism about reducing trade barriers and has vowed that the government will continue efforts to improve the business environment in the country.

MANILA, Philippines – A government think tank has urged the Aquino administration to pursue regulatory reforms that can increase trade in services such as the removal of infrastructure bottlenecks in transportation, communications, energy, water and other services.

MANILA, Philippines – The Philippine membership to the World Trade Organization (WTO) has helped the country’s trade expand in the global market, the Department of Trade and Industry (DTI) said yesterday.

MANILA, Philippines – The country’s balance of payments (BOP) surplus jumped 53 percent in the first half of the year on the back of the central bank’s robust earnings from its investments abroad and foreign exchange operations as well as higher foreign borrowings by the government, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.

Amid the failure of revenue collection agencies to improve their tax take and the record budget deficit the past two years, the country’s outstanding external debt soared to $60.9 billion as of March, up by $900 million from end-December 2010’s $60 billion and by $4 billion year-on-year.

The Philippine economy operates in the wide world of international trade in goods and in the movement of economic resources. The extent of this role in trade has risen and provides a promising future. This much can be discerned from the recently rebased national income series based the constant prices of 2000.