After Frederick Go was appointed as Finance Secretary, leaving the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) vacant, Malacañang announced that the office will be dissolved.

“We called Secretary Frederick Go and he said that OSAPIEA would be dissolved,” Palace Press Officer Undersecretary Claire Castro said during a press briefing at Malacañang Palace.

The OSAPIEA has been instrumental in negotiating trade talks and tariffs with other countries, particularly with the United States. When asked if ongoing negotiations will be affected by Go’s shift to the Department of Finance, Malacañang assured that the work will continue under the economic team.

“According to Sec. Go, the Department of Trade and Industry is the one handling the technical and substantial work with regard to trade agreements, so nothing will be affected,” Castro explained.

She added that Go’s experience with the OSAPIEA will support his leadership of the Department of Finance and the commitments it has taken on.

Malacañang has yet to release a copy of the order officially dissolving the office.

After Lucas Bersamin was replaced as Executive Secretary along with former Budget Secretary Amenah Pangandaman, Secretary Ralph Recto was named as the new Executive Secretary and Go was tapped as his replacement at the Department of Finance.

OSAPIEA formed to assist

Castro explained that the OSAPIEA was originally formed to help agencies focused on the Philippine economy.

“Instead of having two more agencies where both Secretary Go is an expert, it might as well be dissolved and other agencies, especially DTI, will help, as now the DTI is assigned to handle the technical and substantial work for that,” she said.