PH: Businessmen mixed on country’s TPP bid
Business World | February 02, 2014
Businessmen mixed on country’s TPP bid
By Daryll D. Saclag, Reporter
BUSINESSMEN’S sentiments are mixed with regard to the government’s decision to reconsider applying for membership in the planned Trans-Pacific Partnership (TPP).
John D. Forbes, senior adviser at the American Chamber of Commerce of the Philippines, claimed: "Absence... in the TPP will harm export growth and make the country less attractive to foreign investors."
"It will be outside the immense production logistics network of North America [and] investors will bypass the Philippines for Vietnam," he added.
Henry J. Schumacher, executive vice-president of the European Chamber of Commerce of the Philippines, said: "In a global world, it makes good economic sense to create alliances."
Trade officials last week said the government would be sending a team to the United States (US) in March to start "technical discussions." The government was previously critical of TPP membership, noting that this carried requirements such as further market liberalization.
Alfredo M. Yao, president of the Philippine Chamber of Commerce and Industry, said: "My worry is that there are some industries which may not be able to compete such as plastics, garments, and sugar."
"The government should study this very closely and not just enter into a deal out of fear of being left out," Mr. Yao added.
Sergio R. Ortiz-Luis, Jr., president of the Philippine Exporters Confederation, Inc., said: "It’s ideal that we join but I doubt if the government will be able to quickly comply with whatever the requirements of the TPP are."
"Just like in our application with the EU GSP+ (European Union Generalized System of Preferences Plus), there may be some protocols, such as those relating to customs, environment and labor standards, which agencies might find difficult to adopt."
Peter Angelo V. Perfecto, executive director of the Makati Business Club, said: "We are not aware exactly what the TPP is all about... so we need to understand at least first by being part of negotiations."
Trade Secretary Gregory L. Domingo last week said the Philippines would seek flexibility for its TPP entry. Negotiations, led by the United States, are currently ongoing between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.
