The Philippines called for a stronger cooperation at the recent Asia Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) meeting in Peru.
Department of Trade and Industry (DTI) Undersecretary Allan Gepty underscored the need during the meeting to revitalize the multilateral trading system and address current economic challenges.
“While we did not achieve the outcomes we had hoped for, the Philippines sees this as an opportunity for us to reflect and collaborate more to strengthen the multilateral trading system,” Gepty said during talks on trade liberalization and the outcomes of the World Trade Organization’s Ministerial Conference.
He stressed the importance of building on positive outcomes from the WTO meeting and implementing agreements. The Philippines remains committed to a fair and inclusive global trading system, he said.
Highlighting agriculture as a key concern, Gepty urged APEC economies to find solutions on domestic support and public stockholding issues. He suggested exploring alternative approaches for discussion, acknowledging this as a new topic for APEC.
The Philippines also championed the inclusion of micro, small and medium enterprises (MSMEs), women, people with disabilities and youth and elderly in trade discussions.
Trade Undersecretary Carol Sanchez joined Gepty at the first Joint Women and Trade Ministers’ Meeting, sharing details about Philippine programs empowering women entrepreneurs in the growing digital economy.
Member economies are also collaborating on a roadmap for capacity building and skills development programs for women in trade, to be finalized before the APEC Leaders’ Summit in November.
Discussions also touched upon the Free Trade Area of the Asia-Pacific (FTAAP), a concept promoted by APEC’s business arm.
“With the current global economic setting, coupled with many challenges and fast-paced advancement of technology, FTAAP should be viewed more in the context of regional cooperation and economic integration that facilitates not only trade but creates more opportunities for our people under an environment that is fair, and fosters inclusive growth and development,” Gepty said
