The country’s value of agricultural exports and imports declined by 0.9 percent to $6.27 billion as it saw a lower trade deficit during the fourth quarter of 2023, data from the Philippine Statistics Authority (PSA) showed. This was lower than the $6.327 billion or 5.1 percent annual increase in...
The Philippines has signed the second protocol to the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), President Marcos announced on Wednesday, March 6. President Ferdinand 'Bongbong' Marcos Jr. speaks during the leaders' plenary session at the ASEAN-Australia Special Summit in Melbourne...
The government is exploring the option of prohibiting disposable vapes in the country due to their unregulated sales, tax evasion, and significant health risks, especially among young Filipinos. Finance Secretary Ralph G. Recto said that they are keeping a close watch on retailers, including...
President Marcos believes there is "great potential" in enhancing Philippine-Hawaii cooperation, especially in trade. President Ferdinand 'Bongbong' Marcos Jr. welcomes the Filipino Chamber of Commerce of Honolulu and Honolulu City Council Trade Mission during their courtesy call at the...
Finance Secretary Ralph G. Recto has suggested exploring the potential for the Philippines to establish a free trade agreement with the United Kingdom (UK). This proposal was raised during Recto’s recent meeting with UK Prime Minister’s Trade Envoy to the Philippines Richard Graham and UK...
Preparations are already underway for the upcoming trade mission to be sent by US President Joe Biden to the Philippines. US Ambassador to the Philippines MaryKay Carlson said she flew to Washington to brief representatives from the American private sector about opportunities in the country....
GENEVA, Switzerland -- Fisheries, agriculture and WTO reform will be at the heart of intense negotiations when trade ministers from around the world gather in Abu Dhabi later this month. Big deals are unlikely during the World Trade Organization's 13th ministerial meeting, since its rules require...
The Department of Energy (DOE) is eyeing the issuance of a Presidential mandate that will expand the coverage of zero tariff incentive for electric vehicles (EVs) - primarily for hybrids, as well as the two-wheeler and three-wheeler fleets. Energy Undersecretary Felix William Fuentebella told...
The country posted a lower trade deficit in December after mild contractions in exports and imports, data from the Philippine Statistics Authority (PSA) showed Friday, Jan. 26. The trade gap, or the difference between the value of exports and imports, declined by 11 percent to $4.01 billion in...
The Bureau of Customs (BOC) is aiming to ramp up its digitalization processes in trade and border controls in order to meet its revenue collection target this year. In a statement, Customs Commissioner Bienvenido Y. Rubio said the bureau is planning to increase collections by 15 percent to 20...
The trade mission that will be sent by US President Joe Biden to the Philippines will be the first in a series of major commercial events that will be undertaken by Manila and Washington this year, the Department of Foreign Affairs (DFA) said Monday, Jan. 15. After Biden announced over the weekend...
US President Joe Biden will send a trade and investment mission to the Philippines to enhance American companies' contributions to the country's economy. In a statement, National Security Council (NSC) Spokesperson Adrienne Watson said Commerce Secretary Gina Raimond will lead the Presidential...
