Philippines ‘not ready’ for TPP

Reading Time: 1 minute
obama
US president Barack Obama has been pushing the TPP heavily in his second term in office

The Philippines is not yet ready to join the international free-trade agreement known as the Trans-Pacific Partnership (TPP), the head of the country’s Trade Department, Trade Secretary Gregory L. Domingo told reporters on April 17.

“We can pursue it, but is it wise to lobby for it? Let’s just wait until we’re ready. We’re not going to actively pursue negotiations for us to join. It can be distracting and we have no resources for it,” he said.

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

The TPP is a trade agreement among Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, Vietnam, and the US, pushed by US president Barack Obama.

On April 12, Japan announced that it has reached a deal with the US that will lead to formal negotiations for its joining the TPP.

Domingo said the Philippines would be interested in eventually joining the TPP, if invited by the partnership members. Otherwise the country would prefer to enter trade separate agreements with the other nations.

 

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 1 minute

US president Barack Obama has been pushing the TPP heavily in his second term in office

The Philippines is not yet ready to join the international free-trade agreement known as the Trans-Pacific Partnership (TPP), the head of the country’s Trade Department, Trade Secretary Gregory L. Domingo told reporters on April 17.

Reading Time: 1 minute

obama
US president Barack Obama has been pushing the TPP heavily in his second term in office

The Philippines is not yet ready to join the international free-trade agreement known as the Trans-Pacific Partnership (TPP), the head of the country’s Trade Department, Trade Secretary Gregory L. Domingo told reporters on April 17.

“We can pursue it, but is it wise to lobby for it? Let’s just wait until we’re ready. We’re not going to actively pursue negotiations for us to join. It can be distracting and we have no resources for it,” he said.

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

The TPP is a trade agreement among Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, Vietnam, and the US, pushed by US president Barack Obama.

On April 12, Japan announced that it has reached a deal with the US that will lead to formal negotiations for its joining the TPP.

Domingo said the Philippines would be interested in eventually joining the TPP, if invited by the partnership members. Otherwise the country would prefer to enter trade separate agreements with the other nations.

 

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid