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Archive for the ‘Philippines’ Category

Positive Outlook for UK-Philippines Trade Growth

International Trade, News, Philippines, United Kingdom

February 12, 2024

Recent reports reveal an encouraging trend in UK-Philippines bilateral trade, with total trade in goods and services hitting a record high of Ã‚Â£3.0 billion. Chris Nelson, the Executive Director/Trustee of the British Chamber of Commerce Philippines (BCCP), expressed optimism regarding the ongoing positive trajectory of trade between the two nations. In a recent interview, […]

Rice Imports Rise in January: Philippines Adapts to Changing Conditions

Agricultural Trade, News, Philippines

February 6, 2024

Recent data from the Department of Agriculture’s Bureau of Plant Industry (DA-BPI) reveals an uptick in rice imports in the Philippines during January 2024. According to reports, inbound shipments of rice reached 268,006 metric tons (MT) by January 25, marking a 6.15% increase compared to the same period last year. Despite this growth, the […]

The Philippines and Vietnam Strengthen Trade Ties with 5-Year Rice Agreement

Agricultural Trade, News, Philippines, Vietnam

January 30, 2024

In a significant move to bolster their trade relations, the Philippines and Vietnam have signed a Memorandum of Understanding (MOU) on Rice Trade Cooperation. This agreement, among several others, was forged on Tuesday, Jan. 30, during bilateral discussions between the two nations. The MOU on Rice Trade Cooperation establishes a framework for rice cooperation […]

Philippines and Canada Forge Stronger Defense Ties with Memorandum of Understanding

Canada, International Relations, News, Philippines

January 29, 2024

In a significant step towards bolstering their defense cooperation, the Philippines and Canada formally signed a memorandum of understanding on Friday, with Manila’s defense minister expressing optimism that this agreement could pave the way for a troop pact between the two nations. Defense Secretary Gilberto Teodoro highlighted the strong intention on both sides to […]

Philippines Retains Top Spot in Global Rice Imports for 2024

Agricultural Trade, News, Philippines

January 23, 2024

In a recent report by the United States Department of Agriculture (USDA), the Philippines is anticipated to maintain its position as the world’s leading rice importer for the year 2024. The surge in local rice prices, reaching a 14-year high, has contributed to this projection. The USDA’s Economic Research Service outlined an estimate of […]

Guatemala Emerges as Potential Global Banana Export Leader, Surpassing the Philippines

Agricultural Trade, News, Philippines

January 23, 2024

In a potential shake-up of global banana export rankings, preliminary findings from the United Nations’ Food and Agriculture Organization (FAO) indicate that Guatemala may have overtaken the Philippines in 2023. The Philippines, holding the second position for six consecutive years, faces a possible dip in its standing. According to early data from the […]

Philippines and Korea Set to Deepen Ties Following Free Trade Agreement

News, Philippines, Trade Agreements

January 13, 2024

In a forward-looking approach, the Philippines is actively pursuing a strategic partnership with Korea this year, building on the historic Philippines-Korea Free Trade Agreement (FTA) signed last year. With the 75th anniversary of diplomatic relations approaching, both nations are keen on elevating collaboration in various sectors, according to the Philippine Ambassador to Korea, Maria Theresa […]

Australia Implements Streamlined Dairy Import Rules, Facilitating Market Access for Philippine Exporters

Agricultural Trade, Australia, News, Philippines

January 8, 2024

In a recent development, the Department of Trade and Industry (DTI) has issued a reminder to local exporters of dairy products, urging them to familiarize themselves with Australia’s updated regulations to ensure compliance and sustained market access. According to the advisory, Australia revised its import regulations for dairy in November of the previous year. Notably, […]

Philippine Agriculture Eyes Robust Expansion in Japanese Market

Agricultural Trade, News, Philippines

January 8, 2024

In a strategic move, the Department of Agriculture (DA) has announced its ambitious plans to enhance and diversify the export of agricultural products to Japan, aiming to capitalize on opportunities for growth in the Japanese market. Agriculture Secretary Francisco Tiu Laurel, Jr. highlighted the intent to boost shipments of a variety of agricultural goods, […]

Landmark Nuclear Deal Signed Between the United States and the Philippines

International Trade, News, Philippines

November 16, 2023

In a historic move, the United States and the Philippines have inked a groundbreaking agreement that opens the door for Washington to export nuclear technology and materials to Manila. This landmark deal signifies the Philippines’ exploration of nuclear power as a means to decarbonize its energy sector and enhance energy independence. U.S. Secretary of […]

Philippines and South Korea Forge Transformative Free Trade Agreement

International Trade, News, Philippines, South Korea

September 25, 2023

The International Trade Council is pleased to report on the signing of a significant Free Trade Agreement (FTA) between the Philippines and South Korea. This momentous occasion took place during the 43rd Association of Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia, and is poised to strengthen economic ties and promote increased cooperation between the […]

International Trade Council Commends the Philippines and South Korea on the Signing of a Free Trade Agreement

News, Philippines, South Korea

September 7, 2023

The International Trade Council is pleased to recognize the signing of a free trade agreement (FTA) between the Philippines and South Korea during the ASEAN Summit in Indonesia. President Ferdinand Marcos Jr. announced this significant development, emphasizing its potential to strengthen investment relations and create employment opportunities. President Marcos highlighted that the FTA underscores […]

United Kingdom Considers Establishing Joint Trade and Economic Committee with the Philippines

News, Philippines, Trade Relations, United Kingdom

August 19, 2023

United Kingdom Considers Establishing Joint Trade and Economic Committee with the Philippines The International Trade Council reports that the United Kingdom (UK) and the Philippines are in discussions regarding the potential formation of a Joint Trade and Economic Committee (JETCO). The aim of the JETCO would be to strengthen economic connections between the two nations. […]

International Trade Council Celebrates the Initiation of Scoping Exercise for EU-Philippines Free Trade Agreement

Europe, News, Philippines, Trade Agreements

July 31, 2023

The International Trade Council warmly welcomes the announcement by the EU and the Philippines about their commitment to delve into the potential relaunch of negotiations for a holistic, contemporary, and balanced Free Trade Agreement (FTA), underpinned by sustainability. Both entities will soon initiate a bilateral ÃƒÂ¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬Ãƒâ€¹oescoping process’ to gauge the mutual understanding they share concerning […]

Philippines Introduces “Green Lanes” to Attract Foreign Direct Investments

Foreign Direct Investment, News, Philippines

July 13, 2023

In a move aimed at bolstering foreign direct investments (FDI), the Philippines officially launched its “green lanes” for significant strategic investments. The initiative, intended to attract capital inflow into the country, will streamline the process for obtaining necessary documents to establish businesses within the nation, according to the Department of Trade and Industry (DTI). […]

The International Trade Council Responds to the Philippines’ Call for Asean’s Committment to Free Trade

News, Philippines, Trade Agreements

May 10, 2023

The International Trade Council (ITC) acknowledges President Ferdinand “Bongbong” Marcos Jr.’s recent call for ASEAN member states to demonstrate their commitment to the principle of free trade. This call was made during the plenary session of the 42nd ASEAN Summit held in Labuan Bajo, Indonesia. The Philippine government has shown its commitment to this […]

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