PH bats for strategic measures to further deepen ASEAN trade

Under its ASEAN Chairmanship, the Philippines will push for strategic measures to facilitate seamless and transparent trade, investments, and services that will further deepen the region’s economic integration when trade ministers from the 10-member countries meet here this week.

The 49th ASEAN Economic Ministers’ (AEM) Meeting and Related Meetings will start Thursday, Sept. 7, up to 11 here. Trade and Industry Secretary Ramon M. Lopez will chair this year’s AEM meeting at the Marriott Hotel.

Lopez has identified the strategic measures the Philippines will be championing this year to include the ASEANwide Self-certification Scheme, introducing a more robust method for AEC compliance monitoring through the ASEAN Seamless Trade Facilitation Indicators (ASTFI) and Review Mechanism for AEC, fostering a more facilitative and transparent trade in services regime sector through the ASEAN Trade in Services Agreement (ATISA) negotiations, and strengthening investments through the Focused and Strategic (FAST) Action Agenda on Investment, and enhancing intra-regional connectivity and bolstering socio-economic growth in the regions through the launch of the ASEAN Roll-on Roll-off (RORO) Shipping Network.

The Philippines is also introducing Inclusive Business in ASEAN, mainstreaming Women Economic Empowerment in ASEAN Economic Community (AEC), and supporting cross-border trade and ecosystem of entrepreneurship based on technology and innovation through ECommerce and the ASEAN Declaration on Innovation.

“At the end of the day, what will value is how these meetings concretely translate to creating more and better opportunities for ASEAN citizens to experience inclusive growth that leads to region-wide prosperity, as we partner for change and engage the world,” said Lopez, referring to this year’s theme of PH’s chairmanship of ASEAN.

For its chairmanship, the Philippines has chosen the theme “Partnering for Change Engaging the World”. This is to reflect the Philippine government’s advocacy to promote unity with and among ASEAN member states and its global partners. It seeks to invite the entire region and its partners to become dynamic and vibrant allies for a future that is prosperous for all citizens.

DTI Undersecretary Ceferino S. Rodolfo, AEM Philippines Lead, said ASEAN is a platform where the Philippines can regionalize its national interests.

“Our collective efforts will lead us towards earning takeaways that will truly resonate to the country’s economic thrusts, and in turn to the benefit of our people,” said Rodolfo.

The Philippines has championed the promotion of micro, small and medium enterprises (MSMEs) into the global value chains.

Thus, increasing trade and investment, integrating the MSMEs in the global value chains, and developing an innovation-driven economy are the identified strategic measures to achieve said thematic priority.

PH’s membership in ASEAN is seen as a means to further enhance the country’s competitiveness and reap the full benefits of participation in closer ASEAN regional economic integration.

Since the adoption of the AEC Blueprint 2025 last year and the Consolidated Strategic Action Plan (CSAP) in February 2017 in Manila, community building efforts have intensified under the Philippines’ Chairmanship of ASEAN.

During the 6-day high-level meeting, ASEAN trade ministers will also meet their counterparts from Australia, Canada, China, Hong Kong, India, Japan, Korea, New Zealand, Russia, and the United States.

These series of meetings will enable and exchange views on global and regional economic developments, as well as include discussions on trade agreements and economic cooperation mechanisms with these countries.

Lopez is also scheduled to have bilateral meetings on the sidelines to discuss important trade and economic concerns and explore commercial opportunities.

Alongside engagements with external partners are dialogues with the private sector and business councils including ASEAN Business Advisory Council (ABAC), Canada - ASEAN Business Council (CABC), ASEAN - Korea Business Council (AKBC), US - ASEAN Business Council (USABC), Australian Chamber of Commerce (AustCham), Australia-New Zealand Business Council (ANZBC), Federation of Japanese Chambers of Commerce and Industry Association (FJCCIA), East Asia Business Council (EABC) and ASEAN-India Business Council (AIBC) in order to recognize their significant contribution in producing appropriate policy options and recommendations to further facilitate ASEAN’s deeper economic integration.