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Trade Policy Review: The Philippines 2012

image of Trade Policy Review: The Philippines 2012

“Trade Policy Reviews” analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat, a report by the government, and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - “key trade facts” - provides a visual overview of the WTO member’s major exports/imports, main export destinations, origins for its imports and other key data. This edition looks into the trade practices of The Philippines.

English

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Report by the WTO Secretariat

The Philippines economy has performed well since its third TPR in 2005, based on a relatively open trade regime. Nonetheless, the economy is operating below potential due to the slow pace of reform while some of the key constraints on overall growth remain (e.g. inadequate infrastructure, low investment, and governance issues). Improved productivity is essential for the Philippines to compete with low-cost neighbouring economies, and additional steps are needed to promote more competition, improve human capital, eliminate limitations on foreign investment, reduce incentives, and reform state-owned institutions. It is also hoped that the Government’s recently launched public-private partnerships initiative will encourage investment in major infrastructure projects.

English

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