Trade Policy Review
Report by
The Philippines
Revision
Pursuant to the Agreement
Establishing the Trade Policy Review Mechanism (Annex 3 of the Marrakesh
Agreement Establishing the World Trade Organization), the policy statement by The Philippines is attached.
Contents
1
MACROECONOMIC OUTLOOK AND DEVELOPMENTS IN THE ECONOMY. 3
1.1
Overall Economic Performance. 3
1.2
Sectoral Growth. 3
1.3
External Trade. 4
2 DOMESTIC POLICIES AND INITIATIVES TO SUSTAIN
LONG-TERM GROWTH AND IMPROVE THE BUSINESS ENVIRONMENT FOR INCLUSIVE GROWTH.. 5
2.1
Domestic Policies and Initiatives. 5
2.1.1
Structural Reforms. 5
2.2
Enhancing Competition Policy and the Regulatory Environment 5
2.2.1
Trade Facilitation. 6
2.2.2
Data Privacy. 6
2.2.3
Tax Reform.. 6
2.3
Manufacturing resurgence. 7
2.4
Services. 7
2.4.1
Information Technology-Business Process Management (IT-BPM) 7
2.4.2
Financial services. 8
2.4.3
Tourism.. 9
2.4.4
Logistics. 9
2.5
Innovation and Development 10
2.6
Enhancing the Participation of Micro, Small, and Medium Enterprises (MSMEs) in
Global Markets 10
2.7
Standards and Technical Regulations. 11
3 INDUSTRY AND TRADE POLICY DEVELOPMENTS. 11
3.1
The Philippines and the WTO. 11
3.1.1
Multilateral Agreements. 12
3.1.1.1
2005 Protocol Amending the TRIPS Agreement 12
3.1.1.2
2014 Protocol concerning the Trade Facilitation Agreement 12
3.1.2
Plurilateral Agreements. 12
3.1.2.1
Information Technology Agreement 12
3.2
Participation in the Doha Development Agenda (DDA) Negotiations. 12
3.2.1
Agriculture. 12
3.2.2
Services. 13
3.2.3
Intellectual Property. 13
3.2.4
Rules. 14
3.2.5
Trade Facilitation. 14
3.2.6
Dispute Settlement Understanding. 14
3.3
Bilateral and regional trade relations. 15
4 FUTURE POLICY DIRECTIONS. 16