BEIJING, China — Beijing is leveraging its role as host of this year’s Asia-Pacific Economic Cooperation (APEC) forum to revive momentum for a massive regional free trade zone, seeking to counter a global tide of protectionism and fragmented commerce. In a discussion paper released Friday,...
The government has reached a fresh agreement with manufacturers and retailers to extend the nationwide price freeze on essential goods until May 10, providing a temporary shield for consumers against rising living costs. On Friday, April 17, Trade Secretary Cristina Aldeguer-Roque announced the...
The Department of Trade and Industry (DTI) is rolling out a ₱2 billion financing program aimed at accelerating the shift to electric vehicles (EVs) among the country’s small-scale transport players. In a statement on Friday, April 17, the DTI said the initiative, managed by its financing arm,...
The Philippines has launched a safeguard investigation into rice imports, as authorities move to assess whether a surge in inbound shipments is harming domestic farmers of the country’s primary food staple. In an April 15 notification to the Geneva-based World Trade Organization (WTO), the...
The United States (US) and the Philippines are planning to establish a 4,000-acre, or a nearly 1,619-hectare (ha), industrial hub in Luzon aimed at strengthening supply chains for critical inputs, according to the US Department of State. In an April 16 fact sheet, the US State Department said the...
As fuel prices continue to weigh on the export sector, the Philippine Exporters Confederation Inc. (Philexport) is calling for the suspension of the 12-percent value-added tax (VAT) to ease cost pressures on businesses and consumers. In a statement on Thursday, April 16, Philexport president Sergio...
Special Envoy to the United Arab Emirates Ma. Anna Kathryna Yu-Pimentel on Wednesday, April 15 welcomed the opening of the Manila office of Dubai International Chamber, describing it as a clear result of strengthened diplomatic and economic engagement between the Philippines and the United Arab...
The Philippine government has pushed back against a United States (US) probe, asserting that its labor and trade policies neither enable forced labor nor disadvantage American businesses. In an April 14 position paper seen by Manila Bulletin, Department of Trade and Industry (DTI) Undersecretary...
The Department of Trade and Industry (DTI) is seeing surge of interest from global automotive manufacturers looking to tap into the government’s forthcoming incentive program aimed at establishing the country as a regional hub for electric vehicle (EV) production. Trade Undersecretary and Board...
The jump in the March inflation rate has set the stage for a potential 50-basis-point (bp) rate hike by the Bangko Sentral ng Pilipinas (BSP) during the second quarter, according to global investment banking giant Goldman Sachs. In an April 7 report obtained by Manila Bulletin, Goldman Sachs...
The Department of Trade and Industry (DTI) will no longer pursue an incentive program aimed at attracting investments in internal combustion engine (ICE) vehicles, as it shifts its focus toward the domestic production of electric vehicles (EVs). Trade Secretary Cristina Roque told reporters on...
The country’s top manufacturers once again agreed to hold off on price hikes, such that there will be no increases for basic necessities and prime commodities (BNPCs) at least until the end of the month, according to the Department of Trade and Industry (DTI). At the Kapihan sa Manila Bay forum...
