No rush to full liberalization, Roxas assures industry group

Trade and Industry Secretary Manuel Roxas II assured yesterday the Free Trade Alliance (FTA), a group of local industry associations, that the government will not rush headlong to a full trade liberalization.

"For the first time in history, since 1986, you have a government and a DTI that has put a stop in the automatic reduction in tariffs at an annual basis," Roxas said.

"In fact, you have a government and DTI that has actively employed safeguard legislation or the safety nets legislation that Congress put in place," he added.

Roxas also said the Philippines is supporting the so-called "Singapore issues."

The Singapore issues involve following a shared template on competition policies, investment policies and treatment of foreign nations with respect to investment.

"More specifically, the Singapore issue pushes adherence to same rules," Roxas said.

The DTI chief said the Philippines is adopting a different position where in "countries have different situations, are in different stages of development.. and cannot have a one size fits all policy."

Roxas held a consultation yesterday with the FTA in preparation for the September World Trade Organization (WTO) meeting in Cancun, Mexico.