MANILA – Global economic challenges, including the conflict in the Middle East and trade tensions between the United States and China, are creating both difficulties and opportunities for improved trade policies, according to a Department of Trade and Industry (DTI) official.
ASEAN Business Environment Forum to Address Global Economic Shifts
DTI Foreign Trade Service Corps (FTSC) Executive Director Benedict Uy made the statement during a pre–ASEAN Business Environment Forum (ABEF) briefing in Taguig City on Monday.
The Philippines, as this year’s ASEAN chair, is focused on sustaining dialogue and promoting concrete actions to strengthen regional economic cooperation, Uy said.
The ABEF, scheduled for March 11 in Bonifacio Global City, Taguig, “aims to showcase ideas and real-world practices that strengthen ASEAN’s position as an attractive destination for foreign investments,” according to Uy.
Uy noted the forum is taking place during a period of geopolitical tensions in the Middle East, ongoing trade disputes, and evolving global trade dynamics.
“With such disruptions stifling progress, the same can be viewed as opportunities to capitalize and develop new trading dynamics. Alliances that we have once viewed as unbreakable have begun searching for partners elsewhere the globe,” he said.
The forum will bring together stakeholders from the public and private sectors across ASEAN to discuss areas for policy development.
“to work together and discuss areas where we can really concretize policy into something that’s really tangible and something that not only the Philippines but other ASEAN countries can work on,” Uy said.
Key topics for discussion include green interventions and sustainable development, as well as improving ease of doing business and strengthening supply chain flows to support the business sector and ensure food security.
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