Philippines seeks stronger economic ties with Australia, New Zealand

MANILA, Philippines — The Philippines is looking to forge more bilateral deals with Australia and New Zealand in line with further strengthening economic relations with external partners.

In a statement yesterday, the Department of Trade and Industry(DTI) said the Philippines has discussed with the two countries bilateral trade issues to bring their relations into a more strategic direction.

DTI chief Ramon Lopez, who is also the chairperson of the 2017 Asean Economic Ministers (AEM) meeting, convened separate bilateral meetings with Australian Minister for Trade, Tourism and Investment Steven Ciobo, as well as with New Zealand Member of Parliament Chester Borrows at the sidelines of the Philippine hosting of the 49th AEM and related meetings.

“Secretary Lopez and Minister Ciobo discussed bilateral trade issues to enable the Philippines to increase its exports to Australia,” the DTI said.

Among the issues raised by Lopez is the anti-dumping duty imposed on Philippine canned pineapples and resealable can end closures, and inquired about processes to facilitate the entry of Philippine bananas to Australia.

“Minister Ciobo reassured the DTI head of Australia’s full cooperation with regard to the anti-dumping issues. He also expounded on quarantine procedures,” the trade department said.

The Australian official said Australian businesses are looking to invest in the Philippines given the improved business environment in the country.

However, Ciobo also raised concern on the issue of the country’s 60-40 foreign equity participation.

“The government is trying to revise and repeal the relevant laws to enable increased investments to the country,” Lopez said.

The trade chief likewise said the country is open to doing more business missions with Australia, which will provide an avenue for business in the two countries to cite opportunities and increase trade between them.

Australia was the Philippines’ 16th major trading partner in 2016 with total trade valued at $1.38 billion.

“The Philippines also expressed its appreciation for all the assistance extended, in particular, those provided by the Australia-led Aid for Trade initiative, as well as the scholarships granted to Filipino students through the Australia Awards” the DTI said.

Lopez also met with New Zealand Member of Parliament Chester Borrows and they discussed how the Philippines can look to New Zealand as an example for initiatives to improve the Ease of Doing Business (EODB) in Philippines, noting that New Zealand ranks first for EODB.

Lopez emphasized that various government agencies in the Philippines, particularly the DTI, the Securities and Exchange Commission and the Bureau of Internal Revenue, have already streamlined procedures to facilitate businesses, and that other relevant government agencies are in the process of improving their current systems.

“Key effort now is further streamlining and integration of the information system of the various agencies to cut the entire registration process into less than one hour once automated,” said Lopez, adding the proposal to conduct more workshops/process studies with regard to EODB with New Zealand’s support.