Manila now has 23 FTAs in force, under negotiation — Marcos

With the initiatives of the Department of Trade and Industry and the Marcos administration to provide exporters more foreign markets to sell their products, the Philippines now has 23 free trade agreements in force or under active negotiations with other countries as a result of its active international engagements.

According to President Ferdinand R. Marcos Jr. during his Fifth State of the Nation Address (SoNA) on Monday, the country’s strong foreign relations have earned it incalculable dividends, making the Philippines once again a full member of the community of nations amid the geopolitical tensions globally.

“Our vigilant trade facilitation efforts have resulted in integrating our country into the international free trade network that is the widest and most active one that we have ever had in our history,” said President Marcos.

“It has yielded transformative economic agreements, such as the Regional Comprehensive Economic Partnership,” the President added.

The chief executive announced that the Philippines is set to seal another promising Comprehensive Economic Partnership Agreement, this time with the United Arab Emirates.

The Philippine exports have grown and continued to grow, reflecting the nation’s high productivity and the increasing competitiveness of products and services in the international trade market, the President noted.

With these developments, President Marcos pointed out that it is a smart idea for the country to reinforce its strengths, enhance its comparative advantage, and diversify its portfolio.

“On this principle, we have maintained our competitiveness in supplying critical components to top technology companies in the world,” the President said.

“We have also maintained export competitiveness for our indigenous farm products, such as ube, coconut, bananas, and other tropical fruits. And we have now ventured into new and viable ones, like enoki mushrooms.”

P6-T investments facilitated

through Green Lanes

On the local front, Marcos Jr. said the reform measures carried out by the administration have started to bear fruit as evidenced by the entry of huge investments in the country over the past few years.

“Foreign investments continue to pour in because of our beneficial policies, especially those promoting ease of doing business and accelerating digital transformation that curb red tape and corruption,” Marcos said.

“Over the past three years, more than six trillion pesos in investments have been facilitated through our Green Lanes. These are estimated to create over 400,000 jobs for our fellow Filipinos.”

Productive ecozones laid down the groundwork that brings these investments into actual fruition, posting consistent growth rates over the past three years, the President noted.

And aside from Metro Manila — from Luzon to Mindanao — promising new areas are also emerging, such as in Dumaguete and Misamis Oriental, the President said, emphasizing the government’s plan to also showcase Palawan and the halal industry.

The Philippines, the chief executive said, continues to strive for bigger and greater things, and has set its focus on strategic and emerging industries that position the country in the global value chain, such as in pharmaceuticals, advanced manufacturing, luxury goods, technology, and logistics.

Additionally, the country is also venturing into artificial intelligence (AI), which is expected to bring quality jobs to Filipinos, accelerate industrial competitiveness, and revitalize the economy, the President pointed out.

The plan to advance manufacturing and logistics centers in the global AI and technology value chain is part of a strategic component of the Luzon Economic Corridor being pushed with the country’s partners, the President added.

Clean energy drive through

electric vehicles

Meanwhile, in a bid to revitalize the electric vehicle industry in the country, President Marcos Jr. said the government is speeding up the use of EVs as part of its clean energy program to help build a greener and more sustainable future.

“Consistent with our clean energy drive, we have encouraged the adoption of electric vehicles. We have removed all tariffs on EVs until 2028 to bring down market prices, and the government has also been mandated to prioritize electric vehicles in their re-fleeting plans,” the President declared during his 5th SoNA.

President Marcos said the program will also help local industries grow.

“It shall also spur growth of our domestic local industries across the EV value chain, specifically those involved in the vehicle assembly and manufacturing of batteries and related spare parts,” President Marcos stated.

The President also shared his long-term goal: “It is our goal that in 2040, half of the vehicles on the streets are all EVs.”

President Marcos said modern EVs are already being used in public transportation.

“Some of the modernized Love Bus and the articulated bus that will be used in Davao City are all EVs. The M/B Dalaray that was launched recently is also an EV, which was built with the collaboration of the University of the Philippines and the Department of Science and Industry. In the years to come, this electric ferry boat will be used at the Pasig River Ferry Service from Pinagbuhatan, Pasig to Escolta, Manila stations,” the Chief Executive noted.

The President also asked for the support of the transport industry to speed up the modernization of public transportation.