BUSAN, South Korea — President Marcos urged member economies of the World Trade Organization (WTO) to restore the founding principles of free and open trade, warning that current global trends are moving in the opposite direction. Marcos said this after the 32nd Asia-Pacific Economic Cooperation...
The Philippines welcomed the entry into force of a landmark agreement that aims to curb harmful subsidies contributing to illegal, unreported, and unregulated (IUU) fishing—a measure expected to reverse the widespread depletion of marine resources. The Agreement on Fisheries Subsidies, embodied...
The World Trade Organization (WTO) has revised downward its forecast for global trade growth next year to 1.8 percent from an initial estimate of 2.5 percent as the United States’ (US) reciprocal tariffs come into effect. In its latest trade forecast, the Geneva-based trade body said recent...
The European Union (EU) reaffirmed its opposition to the country-wide bans imposed by the Philippines on areas affected by animal diseases, questioning their consistency with global standards and their impact on the importation of meat commodities. According to the World Trade Organization (WTO),...
Trade chiefs of the 21 member economies of the Asia-Pacific Economic Cooperation (APEC) issued a joint statement calling for strategic reforms in international trade as the region grapples with uncertainties driven by two of its members: China and the United States (US). In a statement issued after...
The member economies of the Asia-Pacific Economic Cooperation (APEC), including the Philippines, have expressed support for a global measure that provides benchmarks to boost the investment and business climate of its members. In a statement, APEC is calling for the integration of the investment...
TOKYO (AP) — Global free trade is in crisis, the head of the World Trade Organization chief said Tuesday while meeting Japanese Prime Minister Shigaru Ishiba on Tuesday. Ngozi Okonjo-Iweala, director-general of the World Trade Organization, told Ishiba that she has high expectations for Japan as...
Japan and the United Kingdom (UK) have signaled concerns over a proposed measure in the Philippines that would impose a ban on the country’s export of raw minerals, according to the World Trade Organization (WTO). In a statement on its website, the WTO said the country’s proposed “export...
ON TO A BETTER FUTURE From left: ABAC Chile member Ramon Jara, Aboitiz Group chief sustainability and reputation officer and ABAC Philippines staffer Ginggay Hontiveros, and ABAC Philippines lead staffer Patrick Chu In Bander Seri Begawan, Brunei Darussalam recently, APEC Business Advisory Council...
Global trade growth in 2023 is still expected to be subpar despite a slight upgrade to GDP projections since last fall, according to the World Trade Organization (WTO). A new“Global Trade Outlook and Statistics” report by WTO economists on Wednesday, 5 April, forecasts that volume of world...
WASHINGTON, United States -- The United States is flouting international trade rules by labeling imports from Hong Kong as those from China, the World Trade Organization ruled Wednesday, an outcome that Washington rejects. The WTO ruling addressed a decision under former president Donald Trump's...
ShopeePay, Shopee’s integrated mobile wallet, has partnered with GHL Systems Berhad, to expand digital payment acceptance in the Philippines. In a statement, Shopee said, the partnership has brought its cashless payment solutions for businesses and consumers to over 83,000 merchant points...
