Philippines: Country to wait for TPP invite

22/04/2013    58

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THE PHILIPPINES is in no hurry to join the Trans-Pacific Partnership (TPP) agreement, a Cabinet official said, preferring to improve the country’s business environment first.
“We can pursue it but is it wise to lobby for it? Let’s just wait until we’re ready,” Trade Secretary Gregory L. Domingo told reporters yesterday.
“We’re not going to actively pursue negotiations for us to join. It can be distracting and we have no resources for it,” he added.
“We’re not yet ready for the TPP, we have to do some more homework first on our environment, labor and investment, on the equity side because we have many restrictions.”
Negotiations are ongoing for the establishment of the TPP, which aims to further liberalize trade in the Asia-Pacific region. Eleven countries -- all members of the Asia Pacific Economic Cooperation (APEC) -- are currently in talks to form the TPP, which will be taken up on the side during this weekend’s APEC trade ministers’ meeting in Surabaya, Indonesia.
Philippine officials have, to varying degrees, expressed interest in the TPP talks, but also noted that joining could require changing the country’s laws. Yesterday, Mr. Domingo said the Philippines was waiting to be invited.
“It is not for us to join, they have to invite us. We will continue to improve, changing rules and liberalizing a bit,” he said.
The Philippine Exporters’ Confederation (PhilExport) said holding off from joining the TPP was a good idea.
“There is some sense to what the government is saying. We have to fix many things in order to become competitive that we may not even get in without improving our environment,” PhilExport President Sergio R. Ortiz- Luis, Jr. said.
“[W]e’re prioritizing improving our business environment so we have a stronger bargaining chip in negotiations,” he added.
April 17, 2013
Source: Bworldonline

THE PHILIPPINES is in no hurry to join the Trans-Pacific Partnership (TPP) agreement, a Cabinet official said, preferring to improve the country’s business environment first.

“We can pursue it but is it wise to lobby for it? Let’s just wait until we’re ready,” Trade Secretary Gregory L. Domingo told reporters yesterday.

“We’re not going to actively pursue negotiations for us to join. It can be distracting and we have no resources for it,” he added.

“We’re not yet ready for the TPP, we have to do some more homework first on our environment, labor and investment, on the equity side because we have many restrictions.”

Negotiations are ongoing for the establishment of the TPP, which aims to further liberalize trade in the Asia-Pacific region. Eleven countries -- all members of the Asia Pacific Economic Cooperation (APEC) -- are currently in talks to form the TPP, which will be taken up on the side during this weekend’s APEC trade ministers’ meeting in Surabaya, Indonesia.

Philippine officials have, to varying degrees, expressed interest in the TPP talks, but also noted that joining could require changing the country’s laws. Yesterday, Mr. Domingo said the Philippines was waiting to be invited.

“It is not for us to join, they have to invite us. We will continue to improve, changing rules and liberalizing a bit,” he said.

The Philippine Exporters’ Confederation (PhilExport) said holding off from joining the TPP was a good idea.

“There is some sense to what the government is saying. We have to fix many things in order to become competitive that we may not even get in without improving our environment,” PhilExport President Sergio R. Ortiz- Luis, Jr. said.

“[W]e’re prioritizing improving our business environment so we have a stronger bargaining chip in negotiations,” he added.

April 17, 2013

Source: Bworldonline

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