Economic partnership, a priority for ASEAN Economic Ministers Meeting

APD NEWS

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By APD writer Melo M. Acuna

MANILA, Sep 7 (APD) – Socioeconomic Planning Secretary Ernesto M. Pernia said the 49th ASEAN Economic Ministers Meeting to be held this week will focus on Regional Comprehensive Economic Partnership (RCEP) and agreements on trade and investment.

“There exists so many non-tariff measures that are preventing freer flow of trade,” Secretary Pernia said in an exclusive interview.

He added he foresees agreements on trade relations, exchange of information, exchange of technology and partnerships.

“There will also be joint ventures for countries with common interests as most countries have zero-tariff,” the socioeconomic planning secretary explained.

To date, Dr. Pernia said there are at least 500 non-tariff measures that deter free flow of investments and trade.

“We are liberalizing that because we are lagging behind other ASEAN countries,” he explained.

Malaysia, Thailand and Indonesia are quite advanced and the Philippines “will have to cope with the advantages of these countries.”

On the RCEP, Dr. Pernia added it will be nearing its conclusion as it is an initiative from China.

He added the economic ministers will have to agree and endorse their collective decision to their respective presidents for the coming ASEAN Summit in November.

“We do expect Chinese Premier Li Keqiang, Japanese Prime Minister Shinzho Abe and other world leaders for the November event,” Dr. Pernia said.

Asked if agreements and developments from the recently-concluded BRICS Summit in Xiamen, Secretary Pernia said milestones achieved will be fed into the ASEAN meetings.

He also looks forward to meeting his Chinese counterpart this week although he declined to say what subjects would form part of their agenda. He said he prefers a free-wheeling meeting.

Secretary Pernia said ASEAN which celebrates its 50th founding anniversary this year needs to focus on complimentarities rather than competition.

In another development, Trade and Industry Secretary Ramon Lopez said they are not giving up on the negotiations for the passage of the RCEP though some quarters believe it may be approved next year.

This year’s 49th ASEAN Economic Ministers Meeting and Related Meetings will begin today at the Shangri-La Hotel at Bonifacio Global City will end on Monday, September 11.

(ASIA PACIFIC DAILY)