THE uncertainty presented by a Trump presidency may require a shift by the Philippines if it intends to grow its foreign trade, siding China because the Trans-Pacific Partnership (TPP) could be dead in the water, the head of the exporters’ association said.
JOINING the Trans-Pacific Partnership (TPP) has become imperative for the Philippines because of recent indications that foreign investors have sounded off their intensions to relocate to economies that offer a greater advantage because of their membership to the trading bloc.
THE UNITED STATES is engaged in talks with the Philippines to address areas of reform to get the country ready for the Trans-Pacific Partnership (TPP), with Washington considering it to be a significant economy that will eventually join the free-trade bloc “down the road,” Ambassador Philip S. Goldberg said.
THE PHILIPPINES will use the Asia-Pacific Economic Cooperation (APEC) meetings to find out more about joining the Trans-Pacific Partnership (TPP) when signatories of the trade bloc come to Manila this month for the annual summit.
FINANCE Secretary Cesar V. Purisima stressed that the country would not consider Charter change (Cha-cha) to accommodate participation in the Trans-Pacific Partnership (TPP) until it observes how the first wave of countries to join the agreement will proceed.
MANILA, Philippines – The Philippines may seek for flexibility from members of the Trans-Pacific Partnership (TPP) to be allowed to join the trade pact without having to amend the Constitution. “Our problem is we have a limitation in the Constitution that may not meet standards or ambitions of TPP members. We may have to ask for flexibility at some point, if and when they invite us (to be part of the deal) to be able to comply,” Trade secretary Gregory Domingo said in an interview with reporters. Domingo said the constitution’s limits to foreign ownership in certain sectors may not fit with the TPP. “We cannot promise that we will make changes to the Constitution.” President Aquino has been firm in his stand that there is no need to amend the constitution to achieve economic growth. Domingo said it is in the interest of the country to become a member of the TPP as the trade pact is an avenue to get access to markets, primarily the US. “It (TPP) is something we have to engage in. We have no choice because the US is our second largest trading partner and many of our neighbors will become members of TPP. If they have duty-free access, for example, in the US and we don’t, it will really handicap the Philippines and affect us in a significant way,” he said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The TPP, currently being negotiated by 12 countries, aims to establish a free Read More …