NextGen Day

Sergio Ortiz-Luis, president of the Employers Confederation of the Philippines (ECOP) and the Philippine Exporters Confederation, Inc. (PHILEXPORT), hopes that President Ferdinand “Bongbong” Marcos Jr.’s trip to Singapore and Indonesia will improve relations between the Philippines and the two Southeast Asian nations.

Ortiz-Luis expressed his hope at the Laging Handa public briefing on Monday that the trade and investment agreements that will be signed during the Chief Executive’s visit to the two countries will encourage more Singaporean and Indonesian capital to invest in the Philippines and facilitate the entry of more Philippine goods into these two markets.

He claimed that strengthening ties with Singapore and Indonesia is essential for the nation because the latter has the highest gross domestic product per capita in the area, and the former is the largest market in Southeast Asia.

“Well, certainly anything that helps increase saka investments and trade activity will benefit… In reality, in the Asean-5, at iyang dalawang bayan na iyan ang malakas dito sa Asean. Therefore, it is crucial to remember that an agreement can cover any problems with investments or trade if they arise. These two nations are the strongest in Asean and, in fact, among the Asean-5. Therefore, he said that the deal must address any issues that arise with incoming commerce and investment.

To make sure that the agreement tackles the actual difficulties faced by businesses, Ortiz-Luis noted that should the government enter into an agreement with another nation, it is best for the private sector to be briefed on its details.

It frequently occurs that they will sign, but it doesn’t work because it was not consulted, and he added I hope they went through the process. “In the past, madalas nangyayari na pipirma tapos it doesn’t work dahil hindi pala naikonsulta,” he said.

Marcos stated in his pre-departure statement on Sunday that this week’s state visits to Singapore and Indonesia aim to continue exploring ways to strengthen commercial and investment ties between the Philippines and the two Asean nations.

Philippine two-way commerce with Indonesia reached USD6.12 billion from January to June 2022, while bilateral trade with Singapore totaled USD6.74 billion, according to data from the Philippine Statistics Authority.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

Need to get in touch?

Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. Simple Ways To Say Thanks & Support Us:
1.) GIVE A TIP. Send a small donation thru Paypal
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---