Trade chief says RP needs to catch up in talks with Europe
Business World | May 17, 2010
Trade chief says RP needs to catch up in talks with Europe
PURSUING A free trade area (FTA) deal with the European Union (EU) should remain a key component of the country’s foreign policy initiatives, the Trade secretary said yesterday.
Trade Secretary Jesli A. Lapus, who bows out of office with President Gloria M. Arroyo on June 30, said in a statement yesterday that a Philippine-EU FTA deal "is not only desirable but also in order."
The slow progress towards formal talks between the two parties, in comparison to advanced negotiations with some of the other members of the Association of Southeast Asian Nations, had raised doubts on the government’s commitment to see the process towards an FTA deal through.
The Philippines is currently in talks with the EU for a so-called partnership and cooperation agreement (PCA) — a wide-ranging deal designed to set the framework for sub-pacts in specific fields, including free trade.
Unlike free trade deals with other countries, a PCA is more complicated since it delves into key aspects of bilateral relations.
Hence, countries dealing with the EU may encounter obstacles towards forging a PCA in areas ranging from labor rights to intellectual property rights protection, before it hopes to hammer out a deal that focuses on economic cooperation or on free trade.
PCA talks concluding?
Mr. Lapus said in a phone interview yesterday that Indonesia has already concluded its PCA with the EU, while the EU Web site showed that Vietnam and Singapore are more advanced and have launched talks for an FTA agreement.
Mr. Lapus said in his statement that the "PCA will have to move on at some point in time to FTA negotiations."
Mr. Lapus said specific points for future trade talks could "start with canned tuna and sanitary and phytosanitary measures on various agricultural products."
"We see that it is important for us to not lag behind our neighbors," said Mr. Lapus.
DTI Assistant Secretary Antonio S. Buencamino said in a separate interview yesterday that once a PCA was signed, the stage is set to pursue an FTA deal.
He added that the next round of PCA negotiations in June may also be the last.
