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n Monday, May 7, 2018 Vol. 13 No. 205
Nontraditional markets seen boosting PHL trade 18 million F By Elijah Felice E. Rosales
In a report, titled “Mainstreaming trade to attain the SDGs,” the World Trade Organization (WTO) advised developing countries and least-developed countries (LDCs),
among others, to diversify their exports and keep up with the 2030 Agenda for Sustainable Development and its Sustainable Development Goals (SDGs). The global trade
The number of jobs the World Trade Organization said will be generated in developing countries if the Trade Facilitation Agreement or TFA rolled out
regulator said trade diversification is of paramount importance for these countries given the changing environmental conditions. “With the current decline in commodity prices, developing countries and LDCs are receiving less income for their raw material exports. Diversification into other
By Cai U. Ordinario
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See “ADB,” A2
83 percent Alberto C. Agra
ead
L AlbertoPPP C. Agra Conclusion
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his average grade of the Philippine public-private partnership (PPP) regulatory framework per the recently published report of the World Bank titled Procuring Infrastructure PPP 2018 (2018 PPP Report), hit it on the mark. Having a clear policy and framework ensures stability, consistency, transparency, integrity, accountability, reliability and enforceability. Continued on A15
Continued on A2
ADB backs Duterte admin’s tack to end QR on rice etting a tariff schedule on the country’s rice imports could lead to more stable international rice prices moving forward, according to the Asian Development Bank (ADB). In an interview at the sidelines of the recently concluded ADB Annual Meeting in Manila, ADB Philippines Country Director Kelly Bird told the BusinessMirror that the Manila-based multilateral development bank supports the government’s move to finally end its quantitative restrictions on rice. The Philippines is converting its QR on rice into a tariff schedule in compliance with commitments to the World Trade Organization (WTO). “By converting to a tariff, and you’re allowing importation of rice, then you generally have more stable prices. You have stable supply. And then I guess the tariff would be set so that it also encourages the domestic price of rice. It is a much more preferred approach to managing a particular sector, particularly the agriculture sector,” Bird said. Bird added a QR would cause more volatility in the international market because it pegs commodity prices to a certain level. This prevents prices from adjusting to the demand for certain commodities.
CON-COM EYES TO BREAK UP MONOPOLIES, CARTELS By Bernadette D. Nicolas
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Jaime Augusto Zobel de Ayala, Chairman and CEO of Ayala Corp. converses with Finance Secretary Carlos G. Dominguez III at the Host Country Seminar: Past, Present and Future of the World Economy during the 51st annual meetings of the board of governors of the Manilabased Asian Development Bank. NONIE REYES
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or the Philippines, the policy is clear: take the road less traveled, even in trade. This was why both the government and the private sector agreed that, to diversify exports and improve the country’s trade activities, the nontraditional markets should be explored and utilized, as well.
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he consultative committee (Con-com) reviewing the 1987 Constitution, having earlier adopted provisions to end political dynasties, now eyes the breakup of economic monopolies, cartels and other anticompetitive agreements by adopting so-called self-executing provisions. A t it s s c he du le d me e t i n g o n M a y 7, t h e C o n - c o m subcommittee on economic reforms will finalize provisions mandating the government to “ensure free and fair competition in trade, industry and all commercial activities, and promote efficient resource allocation...establish and guarantee equal conditions for economic activity” and “prohibit agreements that are anticompetition, including anticompetitive mergers and acquisitions.” After their adoption at the subcommittee level, the Con-com
AGUILAR: “We have to make sure that the business field is level because this is what will encourage investments, create efficient industries, lead to high-quality and rightly priced products and services for our consumers, and make economic growth inclusive.”
will vote in an en banc session scheduled within the month. Arthur N. Aguilar, the subcommittee chairman, told the BusinessMirror that they will take up today proposals from the Philippine Competition Commission (PCC) to strengthen the State’s power over “market structures that are inefficient and lacking in competition.” E s t a b l i s h e d i n F e b r u a r y 2016, the PCC aims to prevent businesses from entering into a nt icompet it ive ag reement s,
n japan 0.4750 n UK 70.4155 n HK 6. n CHINA 8.1669 n singapore 38.9778 n australia 39.0454 n EU 62.1801 n SAUDI arabia 13.8294
See “Con-com,” A2
Source: BSP (4 May 2018 )