RP in talks with China, Taiwan on FTAs

MANILA, Philippines - The Philippines is in negotiation with Taiwan for a possible free trade agreement (FTA) and at the same time requesting for a possible FTA with China.

In an interview with reporters, Trade Secretary Jesli A. Lapus said he will speak with his counterpart from Taiwan in the upcoming Asia Pacific Economic Cooperation (APEC) Meeting of Ministers Responsible for Trade (MRT) meeting in Sapporo Japan. “They are asking for an FTA,” Lapus said.

Lapus however, said the possible agreement with Taiwan is subject to diplomatic sensitivity given the One China Policy.

Likewise, Lapus said he has already sent communication with China for a possible bilateral agreement.

APEC 2010 is hosted by Japan with the theme “Change and Action.” APEC Trade Ministers will exchange views on addressing challenges through the APEC 2010 priorities, which include the APEC Growth Strategy and human security.

Ministers are also expected to express their continued support to the multilateral trading system by sending a strong message to move the negotiations of the Doha Development Agenda (DDA) forward and to reject all forms of protectionism. Trade ministers will review the developments related to their commitment to keep markets open and to refrain from raising new barriers to investment and trade in goods and services.

This year is also the target year for the Bogor Goals assessment of developed economies.

Lapus  said ministers are expected to devote time in discussing this matter and will consider the draft of a report on the industrialized economies’ progress towards the 2010 deadline of Bogor Goals of free and open trade and investment.

Lapus said the Philippines is pushing for a fair and honest stocktaking of the APEC industrialized economies’ achievements.

“This assessment is expected to lead to discussions on major APEC priorities such as advancing regional economic integration (REI) as well as possible pathways for moving forward the Free Trade Area of the Asia-Pacific (FTAAP),” Lapus said.