Philippines to Strengthen Trade Relations with EU through Improved Regulatory Practices

Strategic Insights -

The Philippines' anti-red tape watchdog, the Anti-Red Tape Authority (Arta), will play a crucial role in negotiating the Transparency and Good Regulatory Practices (GRP) chapters of the upcoming Philippines-European Union Free Trade Agreement (PH-EU FTA). According to Arta Secretary Ernesto V. Perez, the agency aims to improve trade policy openness, streamline business operations, and promote fair competition through sound regulatory practices.

Key Takeaways:

  • Arta will serve as the lead negotiator for the Transparency and GRP chapters of the PH-EU FTA, focusing on improving trade policy openness and streamlining business operations.
  • The agency aims to ensure that regulatory processes are open, predictable, and accessible, with requirements such as publishing draft regulations, consulting stakeholders, and providing clear timelines and procedures.
  • Arta has negotiated GRP chapters in previous trade agreements, including the Asean-Canada FTA (Acafta) and the Indo-Pacific Economic Framework (IPEF), with the latter still pending finalization.
  • The PH-EU FTA negotiations have been ongoing since last year, and the third round of talks took place in Brussels, Belgium from June 16 to 20.
  • Arta's main objective is to align Philippine regulations with international standards and improve the country's overall trade environment.

Statistics:

  • 3 rounds of negotiations have taken place between the EU and Philippines for the PH-EU FTA.
  • Arta has negotiated GRP chapters in 2 previous trade agreements, including the Asean-Canada FTA and the Indo-Pacific Economic Framework.
  • The PH-EU FTA negotiations have been ongoing since last year.

Sources:

  • BusinessMirror, Viber message from Arta Secretary Ernesto V. Perez.
  • Neda, onboarding of Arta as a co-lead for the Indo-Pacific Economic Framework in 2023.
  • EU-Philippines delegation, third round of negotiations for the PH-EU FTA.