Officials from the governments of the Philippines and Taiwan are set to meet this week for a Joint Economic Co-operation (JEC) meeting, Trade Secretary Ramon M. Lopez told reporters on Monday.
On the sidelines of the launching of e-Presyo of the Department of Trade and Industry (DTI), Lopez said Manila and Taipei will be holding the JEC meeting on Thursday and Friday to further strengthen trade and investment ties between the two countries.
He added that any cooperation between the Philippines and Taiwan is heading toward the direction of having free-trade agreement (FTA) in the future.
In a previous interview with Manila Economic and Cultural Office (Meco) Chairman Angelito Banayo, he said Meco and the Taiwan Economic and Cultural Office (Teco) are launching studies leading to possible FTA between Manila and Taipei.
The studies are sponsored by Meco and Teco and will be done by the University of the Philippines, Philippine Institute for Development Studies and another university in Taiwan.
Data from the Philippine Statistics Authority showed that two-way trade between the two countries reached $4.74 billion from January to August period.
Exports to Taiwan in the same period were valued at $1.28 billion, while imports from the Asian neighbor amounted to $3.45 billion.
Both the Philippines and Taiwan, which had their new administrations only May this year, are pursuing economic initiatives aimed at boosting relations with Asian neighbors.
Taiwan President Tsai Ing-wen is pushing for its New Southbound Policy, targeting for enhanced economic ties with 18 countries: Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam, Bangladesh, Bhutan, India, Nepal, Pakistan, Sri Lanka, Australia and New Zealand.
President Duterte also targets for stronger relations with Asian countries.
Meanwhile, prior to the JEC meeting in Taiwan, Lopez will be joining President Duterte in his three-day state visit to Japan starting Tuesday.//
On the sidelines of the launching of e-Presyo of the Department of Trade and Industry (DTI), Lopez said Manila and Taipei will be holding the JEC meeting on Thursday and Friday to further strengthen trade and investment ties between the two countries.
He added that any cooperation between the Philippines and Taiwan is heading toward the direction of having free-trade agreement (FTA) in the future.
In a previous interview with Manila Economic and Cultural Office (Meco) Chairman Angelito Banayo, he said Meco and the Taiwan Economic and Cultural Office (Teco) are launching studies leading to possible FTA between Manila and Taipei.
The studies are sponsored by Meco and Teco and will be done by the University of the Philippines, Philippine Institute for Development Studies and another university in Taiwan.
Data from the Philippine Statistics Authority showed that two-way trade between the two countries reached $4.74 billion from January to August period.
Exports to Taiwan in the same period were valued at $1.28 billion, while imports from the Asian neighbor amounted to $3.45 billion.
Both the Philippines and Taiwan, which had their new administrations only May this year, are pursuing economic initiatives aimed at boosting relations with Asian neighbors.
Taiwan President Tsai Ing-wen is pushing for its New Southbound Policy, targeting for enhanced economic ties with 18 countries: Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam, Bangladesh, Bhutan, India, Nepal, Pakistan, Sri Lanka, Australia and New Zealand.
President Duterte also targets for stronger relations with Asian countries.
Meanwhile, prior to the JEC meeting in Taiwan, Lopez will be joining President Duterte in his three-day state visit to Japan starting Tuesday.//
