RP to protect national interest despite FTAs

The Philippines is committed to protect its national interests even as it remains open to participate either in multilateral, regional or bilateral free trade agreements.

This was the gist of a speech delivered by Trade Undersecretary Thomas Aquino on behalf of Trade Secretary Manuel Roxas II during yesterday’s Conference on Free Trade Agreements.

According to Aquino, government is committed to protect its national interest and ensure competitiveness of sectors and industries engaged in international trade.

Aquino said trade must foster development rather than widen the division between rich and poor countries.

However, Aquino said trade and liberalization are not ends in themselves but are tools for development.

Thus, used properly, trade policies can benefit developing countries in two ways.

First, it allow goods and services to be sold to other countries, thus stimulating the domestic economy. Secondly, the country gains access to a wider and more affordable range of goods, services, technologies and knowledge.

In agreeing to the free trade agreements, Aquino said the Philippines insists that its partners recognize domestic interest and concerns.

The Philippines also insists on regular private sector consultations and dialogue as well as transparency in such arrangements.

Aquino also stressed that while the Philippines is committed to economic integration, it nonetheless maintains a pragmatic approach in charting the future direction of the country vis-a-vis its engagement with its free trade partners.

This means that the Philippines will focus only on what is doable at the moment, allowing member countries to move at their own pace when they are ready.