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Philippine merchandise exports capped 2021 with a 14.5% growth with a value reaching $74.6B, based on preliminary data from the Philippine Statistics Authority (PSA). Despite the emergence of a new COVID-19 variant that has impeded the full recovery of the global economy, Philippine exported goods increased in December which added $6.3B in the country’s export […]
The Department of Trade and Industry’s Fair Trade Enforcement Bureau (DTI-FTEB) reported that 94.24% of Metro Manila business establishments monitored are compliant with the Minimum Public Health Standards (MPHS) set by the government to mitigate the spread of COVID-19 in the country. Out of the 5,267 inspected firms last year, 4,121 observed and followed the […]
With the Regional Comprehensive Economic Partnership (RCEP) Agreement set to enter into force on January 1, 2022, securing Senate concurrence to the ratification of the Agreement becomes more urgent for the Philippines. Many economists and international organizations have already expressed views on the value and importance of the RCEP Agreement to the Philippines and to […]
To further encourage the growth of local micro, small and medium enterprises (MSMEs), considered as the backbone of the country’s economy, Senator Win Gatchalian sought to institutionalize “One Town, One Product (OTOP) Philippines” through Senate Bill No. 2366 or the One Town, One Product Philippines Act. The bill seeks to enable the recovery of local […]
An online public hearing for the Regional Comprehensive Economic Partnership (RCEP) Agreement was conducted by the Senate Committee on Foreign Relations (CFR) recently. The hearing was led by Senator Koko Pimentel, Chairperson of the CFR and attended by representatives from the government, academe, private sectors, and civil society organizations. The Department of Trade and Industry […]
The Philippines was named the most improved country in the 2021/2022 Peddling Peril Index (PPI) of countries implementing strategic trade regulations. The Philippines’ ranking increased by 273 points from 482 points the previous year to 755 points, moving up from 86th place in 2020 to 49th place in 2021. “PPI rates 200 nations based on their strategic […]
The Department of Trade and Industry (DTI) hosted the “International Trade Forum: Benefits of the Regional Comprehensive Economic Partnership (RCEP) Agreement to the Philippines” via Zoom recently. Attended by over 300 participants, the forum is the first in a series of webinars on RCEP that the DTI is spearheading to inform stakeholders of the Agreement, […]
The Senate approved on third and final reading a measure that aims to further relax qualifications for foreign retailers to enter the Philippines. Voting 20-0-0, the chamber passed Senate Bill No. (SBN) 1840 seeking to amend Republic Act (RA) No. 8762, otherwise known as the Retail Trade Liberalization Act (RTLA) of 2000. “The proposed measure […]
Department of Trade and Industry (DTI) Secretary Ramon Lopez pushed for further strengthening of the Philippines and India’s trade and investment relationship during the virtual courtesy call of India Ambassador to the Philippines Shambhu Kumaran recently. Both countries discussed the necessary steps to create more market opportunities and improve their bilateral trade relations. Lopez discussed […]
The provincial government of South Cotabato is pushing for the forging of a sisterhood agreement with North Kalimantan province in Indonesia as it moves to open up exchanges between the two areas. South Cotabato Governor Reynaldo Tamayo Jr. said they are set to embark on exploratory discussions with their counterparts in North Kalimantan for the […]