Gov't Vows to Protect Agri, Manufacturing

The Philippine government vows to protect the country's major agricultural and manufacturing industries and to work with stakeholders in finalizing details of the reciprocal trade agreement with the US.

- By Louella Desiderio

In a joint statement yesterday, Special Assistant to the President for Investment and Economic Affairs Frederick Go and Trade Secretary Cristina Roque said that following the engagement with the US, which led to a reduction in the reciprocal tariff rate imposed on Philippine goods to 19 percent from 20 percent, the negotiators will be working on the details to finalize the agreement.

Roque said the Philippines and the US still have to negotiate the details of the agreement including products covered by market access commitments on both sides.

"We will continue to protect major domestic agricultural and manufacturing industries. They are not included in our concessions," she said.

"The concessions we will extend are strategic to the Philippines. These are products that we do not locally produce and are critical inputs to reducing the cost of health care, for example," Go said.

Go and Roque said the government will also be working with domestic stakeholders as the details of the agreement with the US are finalized.

"We are mindful of the sensitivities of our domestic stakeholders and the same will be duly considered in the negotiations," Go and Roque said.