AMID the growing geopolitical and geoeconomic challenges, President Ferdinand Marcos Jr. will push for maximizing free-trade agreements (FTAs) of the Association of Southeast Asian Nations (Asean) with its biggest trade partners, including China, at the regional bloc’s upcoming summit in Malaysia during the weekend, according to the Department of Foreign Affairs (DFA).
Two major economic trade-related documents-the Second Protocol to amend the Asean Trade in Goods Agreement (ATIGA) and the Asean-China Free Trade Area (FTA) 3.0 upgrade-are expected to be signed at the 47th Asean Summit, to be held from October 26 to 28.
Both agreements are part of the country’s ‘economic-related’ priorities among the 80 outcome documents from the Summit.
Another important document which is also expected to be finalized during the Summit is the Declaration on the Admission of Timor-Leste into Asean as its 11th member.
In a press briefing in Malacañang on Friday, DFA spokesperson Angelica C. Escalona said Marcos will be attending the signing ceremonies of the three documents.
‘In all these engagements, the President will advance Philippine interests in Asean by strengthening security and stability, enhancing economic cooperation, and broadening engagement with dialogue partners,’ Escalona said.
In May, Marcos pushed for updating ATIGA to increase trade in the regional bloc by further removing existing tariff and non-tariff barriers among its members countries.
Areas of cooperation
As for the Asean-China FTA, Escalona said the document is proof that the Philippines’ engagement with Beijing goes beyond disputes related to the West Philippine Sea.
China continues to encroach on the West Philippine Sea, which are parts of the South China Sea within the Philippines’ exclusive economic zone, even after it was already invalidated by the 2016 Arbitral ruling.
‘As I mentioned, the West Philippine Sea is not the sum total of our relations with China. We look at all the other areas of cooperation as well,’ Escalona said.
The DFA official, however, pointed out that the Philippines will continue to push for the pending Asean-China Code of Conduct for the South China Sea, which is being supported by Marcos for the peaceful settlement of possible maritime disputes in the important waterway.
‘As regards the Code of Conduct, well, as the incoming Chair, the Philippines will work with Asean member states in China for the conclusion of an effective, substantive, and legally binding Code of Conduct in the South China Sea,’ Escalona said when asked if the Philippines will pursue the completion of the said Code of Conduct once it takes over the Asean chairmanship next year.
Aside from China, Asean also has FTAs with South Korea, Japan, India, Australia and New Zealand.
Bilateral engagements
DFA has yet to release the list of countries that will engage Marcos in bilateral talks during the sidelines of the Asean Summit, since it is still being finalized.
However, Escalona noted that the Philippines is expected to have a constructive engagement with the United States on economic matters although she has not confirmed if it will be through a bilateral meeting between Marcos and United States President Donald Trump.
Based on international news reports, Trump is expected to attend the upcoming Asean Summit.
‘Our position is that we want to constructively engage the US and we also want to discuss with other Asean member states on how to improve the Asean trade and make use of our existing FTAs,’ Escalona said.
The President, she said, is also expected to attend the meeting on the Regional Comprehensive Economic Partnership (RCEP), an FTA signed by 15 Asia-Pacific countries, including the Philippines.
‘What will be discussed here is the leaders’ direction in enhancing RCEP implementation and exchanging views on regional and international issues, and this is what I got from the DTI [Department of Trade and Industry],’ Escalona said, partly in Filipino.
Marcos will be accompanied by Department of Foreign Affairs Secretary Maria Theresa P. Lazaro, DTI Secretary Maria Cristina Aldeguer-Roque, Department of Social Welfare and Development Secretary Rexlon T. Gatchalian, and Presidential Communications Office Acting Secretary Dave M. Gomez.