The Philippines is expanding its international collaborations as part of the policies of President Ferdinand R. Marcos Jr. to strengthen trade partnerships, attract long-term investments, and improve the country’s export revenues.
In a statement Wednesday, the Department of Trade and Industry said Secretary Cristina Roque made this statement during her speech at the Parliamentary Intelligence-Security Forum on Tuesday, emphasizing the Philippines’ strategic role in the Indo-Pacific region.
“The Indo-Pacific is the engine of the global economy, contributing 60 percent of global GDP (gross domestic product) and over 80 percent of global merchandise trade. The Philippines, with its strategic location and dynamic economy, is poised to shape the region’s economic landscape,” Roque said.
“We are not merely participants in this transformation —we are leading the charge,” she added.
She said the Philippines has been actively engaging in multilateral and bilateral free trade agreements (FTAs), such as the Regional Comprehensive Economic Partnership, the United States-led Indo-Pacific Economic Framework for Prosperity (IPEF), and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
The country is negotiating for bilateral FTAs with the United Arab Emirates, European Union and Chile.
“Our engagement in mechanisms like the IPEF reflects our commitment to pursue bilateral trade and overall economic interests with the United States and other partner countries. It supports strategic collaboration in priority sectors, including energy and energy transition, climate mitigation and resiliency, good governance, supply chains, and critical minerals,” the DTI chief said.
Moreover, Roque is hopeful for positive developments on the US-Philippines Partnership Act filed in the US Congress that will pursue collaborations between Washington D.C. and Manila in sectors of critical minerals, mining, fossil fuels, and infrastructure.
“With the renewed interest under the Trump administration, we are optimistic about negotiating a next-generation trade agreement that not only expands market access, but also ensures the highest standards of labor rights, environmental protection, and social inclusivity,” she said. (PNA)
