Experts say Philippines now 'back on the radar' of Taiwanese firms

Taiwanese companies are looking to set up shop in the Philippines as the country faces a US tariff that is lower than most of its Southeast Asian neighbors, according to analysts.

- By Cathy Rose A. Garcia

This as Taiwan expects further deepening of ties with the Philippines, a Ministry of Foreign Affairs (MoFA) official said.

"We consider the Philippines as a very important partner for freedom, for democracy, for stability in the region," MoFA Deputy Minister Francois Chi-chung Wu told visiting foreign journalists here last week.

Taiwan is also trying to work with the Philippines on "high-level projects," he added.

The Philippines is emerging as a "top priority" for Taiwan in the region amid heightened tensions with China and uncertainty over the US tariffs, an analyst said.

Kristy Hsu, director of the Chung-Hua Institution for Economic Research's (CIER) Taiwan ASEAN Studies Center, said the Taiwanese firms are taking notice of the Philippines because it currently faces one of the lowest US reciprocal tariffs in the region.

"I would say that Philippines right now is back on the radar (of Taiwanese firms)," she told visiting foreign journalists here last week.

US President Donald J. Trump last week announced it was raising the tariff on most Philippine goods entering the US to 20% from 17% previously. However, this is still lower than the 32% tariff that the US is looking to impose on Taiwan.