The Philippines will push for lower reciprocal tariffs with the US, as Department of Trade and Industry Secretary Ma. Cristina Roque confirmed plans to engage in high-level negotiations aimed at benefiting key industries.
The mission leaves on Tuesday, Roque said during a briefing following the memorandum of understanding signing between the Department of Trade and Industry (DTI) and the IT and Business Process Association of the Philippines (IBPAP) on Monday.
The negotiations seek to address reciprocal tariff rates, with Frasco expressing confidence that these talks would help secure a more favorable tariff arrangement for the Philippines.
“We’ve already met with stakeholders, and they’ve presented their wish lists,” Roque said, adding that key sectors, including exporters and manufacturers.
While the Philippines is starting from a lower base compared to other countries, local stakeholders are urging the government to at least maintain the current 17 percent tariff rate if significant reductions are not achievable.
Roque said the government is prioritizing industries with significant export activities like the agriculture sector to ensure that the country’s interests are safeguarded.
The DTI and IBPAP signed an MOU to enhance the promotion and implementation of PQA-related activities, specifically tailored to the IT-Business Process Management (IT-BPM) sector’s needs.
IT & Business Process Association of the Philippines (IBPAP) president Jack Madrid both parties committed to promoting PQA-related activities that specifically address the needs of the IT-BPM industry until 2027.
Roque said the MOU reflects the government’s commitment to supporting the IT-BPM industry, which continues to be a major contributor to the economy.
“This is an important industry that provides many jobs and high-paying opportunities,” she said, underscoring the government’s ongoing efforts to maintain a competitive business environment in the Philippines.