DTI wants industry views on pending FTA with EU, 2 other key trade accords

Quick Summary:

THE Department of Trade and Industry (DTI) is seeking industry inputs on trade deals and digital trade initiatives including the Philippines-European Union Free Trade Agreement (PH-EU FTA), World Trade Organization (WTO) E-Commerce Joint Statement Initiative (JSI), and Asean Digital Economy Framework Agreement (Defa), among others.

Gepty expects the EU to negotiate for maximum access to the Philippine market for almost all of its products, particularly meat and other agricultural products, as well as industrial products like electronic and automotive products, “so they [EU] will aim for a higher level of trade liberalization.

Citing a bottom-up model developed by Boston Consulting Group, the Asean website noted that Asean’s digital economy is projected to triple by the end of the decade through the natural adoption of digital technologies, growing from approximately $300 billion to almost $1 trillion by 2030.“Progressive rules in Defa would double this value contribution, unlocking $2 trillion to Asean digital economy,” said Asean.

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Article Details

Author / Journalist: Andrea E. San Juan

Category: BusinessStartups

Markets: PhilippinesCambodiaVietnam

Topics: Digital Trade Philippines Economy Defa Asean Agreement E-commerce Statement Industry Initiative

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 16:07:00 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 702 words

Reading Time: 4 minutes read

Sentences: 18 lines

Sentence Length: 39 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23351425

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