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2009/SOM2/013anx1

Agenda Item: V

Moderator’s Closing Remarks for IAP Peer Review of the Philippines

Purpose: Consideration

Submitted by: APEC Secretariat

/ Second Senior Officials’ Meeting – Plenary SessionSingapore
19 July 2009

Moderator’s Closing Remarks for IAP Peer Review of the Philippines

SOM 2, Singapore

15 July, 2009

First, let me express my gratitude to all participants for your contribution to today’s session on the Philippines IAP Peer Review. I also thank the two Experts, Dr. Charles A. Barrett from Canada and Dr. Hank Lim Giok Hay from Singapore for their efforts in drafting up the comprehensive Study Report. Further, allow me to commend Ambassador Edsel CUSTODIO and his team for their dedicated efforts over the past few months in preparing for today’s session. My thanks also go to Mr. Toni Widhiastono, APEC Secretariat Program Director, for his preparatory work on the whole Peer Review process.

The Philippines’ economy has experienced high growth over the past few years. The electronics sector and IT offshore service sector in particular have enjoyed remarkable export growth. Similar to other APEC member economies, the Philippines economy has not been spared from the global economic crisis that has unfolded since the end of last year, and like others it has seen its growth rate fall significantly. However, in recent months we are beginning to see some signs of recovery. I am confident that the Philippines will get itself back on its way to full economic recovery.

Since its last IAP Peer Review in 2005, the Philippines has made good progress towards achieving the Bogor Goals. Today’s review illustrated that the Philippines has taken concrete steps in the right direction, including through lowering its applied tariffs and in improving trade facilitation in areas such as customs procedures, also standards and conformance as well as domestic regulations.

Another objective of the IAP process is to identify areas where further improvements can be made in order to achieve the Bogor Goals. The Experts and member economies have identified some possible areas which the Philippines can look to address. Those include restrictions on services, investment, competition policy and the implementation of intellectual property rights.

As pointed out during this IAP Review, some of issues are related to the provisions of the Philippine Constitution, particularly some on services and investment. On the other hand, it should be reminded that activities of the National Competitiveness Council and the Procurement Transparency Group are good step and sign for Philippines to cope with these issues.

I am confident that the Philippines government will resist any moves towards protectionism. And I hope the Philippines will continue to work hard on progressing the remaining issues necessary to achieving the Bogor Goals. Let me take this opportunity to formally congratulate the Philippines for its progress made since the last IAP Peer Review.

In closing, I would like to express my gratitude, once again, to all the delegations for their active participation in this review process as well as our Experts and the APEC Secretariat. Please join me in commending the Philippines delegation for its hard work in preparing for this IAP Review session, and for their constructive engagement in the process.

Thank you.