RP to explore bilateral pact with Taiwan
Philippine Daily Inquirer | 05/31/2010
RP to explore bilateral pact with Taiwan
Deal subject to ‘diplomatic sensitivities’
By Abigail L. Ho
THE PHILIPPINES is exploring the possibility of forging a bilateral agreement with Taipei, with talks to start between the two governments this week at the Asia Pacific Economic Cooperation trade ministers’ meeting in Japan.
Trade Secretary Jesli Lapus said the talks would be done on the sidelines of the meeting and nothing final was expected to be forged there.
“Taipei is asking us for a bilateral agreement, and we’ll discuss that on the sidelines. I’m not averse to that, but we just have to tread carefully. It all depends on whether or not our ‘One China’ policy will conflict with that,” he told reporters Monday.
“This may be the time to start talking. We’ll listen to what they have to say. Since China and Taiwan already have the [Economic Cooperation Framework Agreement], we’ll also be exploring a bilateral deal with Taiwan. But we’ll just be exploring. Everything’s subject to diplomatic sensitivities,” he explained.
Since there was a significant number of Taiwanese companies doing business here, he said an agreement between the Philippines and Taiwan would bode well for the country, particularly in the aspects of investments and trade.
In the first two months of the year, the country’s exports to Taiwan almost doubled to $325.5 million from $167.1 million in the same period last year.
Documents from Taiwan’s Ministry of Economic Affairs showed that during the period, with the country increasing exports to Taiwan by 94.1 percent, the Philippines was Taiwan’s 19th biggest exporter.
In terms of imports, the country sourced $951.8 million of its imported goods from Taiwan in the first two months, up 86.6 percent from the $510.2 million registered in the same period a year ago.
During the period, the Philippines was Taiwan’s eighth largest export market.
Total trade between the Philippines and Taiwan reached close to $1.3 billion, 88.6 percent more than the $677.3 million posted in the same months last year.
Overall, the Philippines was Taiwan’s 14th biggest trading partner globally.
Lapus will be at the Apec Meeting of Ministers Responsible for Trade from June 5-6 in Sapporo, Japan, to exchange views on how to address global challenges through Apec priorities.
The trade ministers are also expected to express continued support for the multilateral trading system and consider the draft of the report on the industrialized economies’ progress toward this year’s deadline for the Bogor Goals of free and open trade and investment.
