Depth report

　　

The Philippines calls on Apec economies to strengthen cooperation to address current challenges and revitalize the multilateral trading system.

Allan Gepty, UnderSecretary of the Department of Trade and Industry (DTI) of the Philippines, represented Secretary Fred Pascual at the APEC Trade Ministers (MRT) meeting on May 17-18, 2024.

The theme of the conference is "Empowerment. Include. "Growth" focuses on charting a path to deeper economic and technological cooperation to promote prosperity and well-being throughout the Asia-Pacific region.

While discussing trade liberalization and the outcome of the 13th WTO Ministerial Conference, Gepty stressed, "Although we did not achieve the results we had hoped for, the Philippines sees this as an opportunity for us to reflect and strengthen our cooperation to strengthen the multilateral trading system."

"We need to build on the positive outcomes of MC13 by implementing and taking forward the decisions and agreements of the conference. In this regard, the Philippines reiterates its commitment to uphold the WTO's role in promoting a rules-based, non-discriminatory, free, open, fair, transparent and inclusive multilateral trading system, "Gapti added, expressing a firm determination to resolve outstanding WTO issues.

Stressing that agriculture is a priority for the Philippines, Capti urged APEC economies to constructively address domestic support and public ownership.

He suggested that member economies explore other approaches for further discussion, recognizing that this is a new theme for APEC.

The Philippines also advocated for the inclusion of a wider range of sectors in trade, supporting greater inclusion of micro, small and medium-sized enterprises, women, persons with disabilities, youth and the elderly.

Meanwhile, at the first Joint meeting of Women and Trade Ministers, UnderSecretary of Trade and Industry Carol Sanchez joined Capti to share the Philippines' policies and plans to empower women entrepreneurs in the fast-growing digital economy. These programs focus on training and support in business skills development, e-commerce, mentoring, digital marketing, technology access and financing.

Addressing informality is a priority for Peru's presidency of APEC in 2024. To facilitate the transition to the formal and global economy, member economies are working together to develop a roadmap that includes capacity-building and skills development programs. The roadmap is to be completed before the APEC leaders' summit in November.

In addition, APEC trade ministers explored the Free Trade Area of the Asia-Pacific (FTAAP), a concept promoted by the Business Advisory Committee of APEC's Business sector.

"In the current global economic environment, coupled with many challenges and rapid advances in technology, FTAAP should be seen more in the context of regional cooperation and economic integration, which not only promotes trade, but also creates more opportunities for our people and promotes inclusive growth and development on a level playing field," Gepty said.

The APEC Trade Ministers' Meeting was successfully concluded with a statement reaffirming APEC's commitment to promoting inclusive and interconnected trade and investment in the Asia-Pacific region.

On the sidelines of the ministerial meeting, Gepti also met with officials from Chile, Canada and the United Kingdom to discuss plans to deepen bilateral trade and investment cooperation.