ISDS Case Map
Philippines
Orders PH govt to pay Belgian firm P0.8 billion
Chinese Commerce Minister Gao Hucheng said China wants to work together with the Philippines to conclude the regional RCEP trade talks
Bigger countries are potentially derailing the progress of this regional economic agreement being negotiated between the 10 Asean countries and their six FTA partners – Australia, China, India, Japan, New Zealand and South Korea.
Both parties are now “undertaking their respective domestic processes for the ratification and entry into force of the agreement.
States such as Vietnam, Malaysia, Thailand and Philippines, which used to lean toward the United States (US), may now be seeking to find more favor with the Chinese.
The Duterte administration will look closely at the Regional Comprehensive Economic Partnership (RCEP), given its new policy of moving the country swiftly towards economic integration with its fellow-members in the Association of Southeast Asian Nations (ASEAN)
The Philippines is working towards closing the negotiations on the Regional Comprehensive Economic Partnership with other members of the Asean next year.
The Second round of talks for a free trade agreement between the European Union and the Philippines has been moved to early next year, delayed by “logistical” concerns.
The launch of the Asean Economic Community (AEC) in December 2015 was a milestone for Asean economic integration, which is, however, an ongoing process.
Once approved, RCEP will promote free flow of goods and services among countries accounting for 30 percent of the global economy and half the world’s population.
