The Philippines is looking to strengthen domestic production and attract higher-value investment to further integrate itself in global supply chains, according to Manuel Antonio J. Teehankee, permanent representative of the Philippines to the World Trade Organization (WTO). Reporting in BusinessWorld, Mr. Teehankee said these objectives were part of the country’s trade and investment reform agenda presented during the WTO Trade Policy Review.
The agenda focuses on boosting domestic production capacity and attracting investments that can move the Philippines up the value chain. By doing so, the country aims to become a more integral part of global supply chains, particularly in manufacturing and services. These reforms are expected to enhance the Philippines’ competitiveness and resilience in international trade.
The Trade Policy Review is a regular WTO exercise where members assess each other’s trade policies. The Philippines’ engagement underscores its commitment to rules-based trade and economic reform. Successful implementation of the agenda could lead to increased foreign direct investment and greater participation in regional supply chains.