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Philippines - Latest News/Current Events, Economic Overview & Trade Relations

AEI | Quick Facts about Philippines

Official Name Republic of the Philippines
Capital Manila
Location Southeastern Asia, archipelago between the Philippine Sea and the South China Sea, east of Vietnam
Area total: 300,000 sq km land: 298,170 sq km water: 1,830 sq km
Climate tropical marine; northeast monsoon (November to April); southwest monsoon (May to October)
Terrain mostly mountains with narrow to extensive coastal lowlands

Philipine 3 year Bond is The Best Choice

"Two- and three-year bonds would be a safe choice in case the central bank no longer cuts rates and the market remains apprehensive on supply,” Singapore-based Belhimeur said in an interview. "Treasury bill rates are too low now and won't drop any…

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Philippines to raise $750 million Bonds

The 10.5-year bonds, (they mature on January 20, 2020, in order to stagger the government's repayment obligations) were at 100.25 by the close of Asian trading yesterday after being re-offered at 99.065. The bonds were priced with a coupon of 6.5%, which…

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Philippines' Gov May Offer $750 Million Bonds

Developing-nation dollar bonds have rallied this year, pushing the extra yield investors demand to own the debt over U.S. Treasuries to 4.50 percentage points from 6.90 points at the start of the year, according to JPMorgan Chase & Co.'s EMBI+ Index.…

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Inflation in Philippines Plunged in June

Inflation in the Philippines fell to 1.5 percent in June, from 3.3 percent in May.

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Philippine Inflation To Ease Further In March

The Bangko Sentral ng Pilipinas (BSP) said inflation is likely to fall within the range of 5.9 percent and 6.8 percent in March due to the downward adjustments in transport fares and electricity rates.

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Philippine External Debt Continues Decline In November

The Philippines' external debt has declined as of the end of November last year on the back of prepayments and continued economic expansion.

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Trade Agreements

ASEAN - China Free Trade Area

The ASEAN - China Free Trade Agreement will apply in an area involving 1.7 billion consumers, making it the world's largest trading area. The agreement currently establishes a zero-tariff market. The agreement now contains trade in goods, services and dispute settlement. Investment is still under negotiation.

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ASEAN - Korea Free Trade Area

Under the ASEAN- Korea Free Trade Agreement, Korean businesses will gain access to the ASEAN market, which contains nearly 500 million people. The agreement contains trade in goods and tariffs will be either eliminated or reduced on Korean products. http://www.aseansec.org/18063.htm

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ASEAN Free Trade Area

Initiated in 1992, ASEAN Free Trade Area (AFTA) main mechanism used to reduce tariffs in ASEAN. It originally contained six members (Brunei, Indonesia, Malaysia, Philippines, Singapore and Thailand) the other four members (Vietnam -1995, Laos -1997, Myanmar-1997 and Cambodia-1999) joined after the original agreement was signed. In order to join ASEAN, they had to agree to AFTA. The overall objective of AFTA is to encourage more foreign investment to ASEAN and establish ASEAN as a world competitor by eliminating both tariff and non-tariff barriers within ASEAN. Over the next 15 years, ASEAN agreed to reduce tariffs 0-5%. http://www.aseansec.org/19346.htm

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Global System of Trade Preferences among Developing Countries

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The Global System of Trade Preferences arose out of the United Nations Group of 77. The Group first appeared interested in 1976 to develop a global system of trade for developing countries. Over years of negotiations, the agreement was signed by the participating members of the Group of 77. The members are currently looking to expand their economic ties to other developing countries in Asia, Latin America and Africa. http://www.unctadxi.org/templates/Page____6207.aspx

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Trade and Investment Framework Arrangement between the United States of America and the Association of Southeast Asian Nations

The Enhanced partnership between ASEAN and the United States will increase cooperation and understanding in the areas of politics, economics and safety.  EAI, Enterprise ASEAN Initiative, will strengthen economic cooperation and will allow and increase of trade and investment between both parties.  Both sides have also vowed to work together on various projects in the development arena including, fighting infectious disease and disaster relief. http://www.ustr.gov/assets/Trade_Agreements/TIFA/asset_upload_file932_9760.pdf

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Trade Organizations

ASEAN Plus 3

Forum as a coordinator of cooperation between ASEAN and China, Japan and South Korea.

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Asia Cooperation Dialogue (ACD)

The Asia Cooperation Dialogue (ACD) is an International Organization to promote Asian cooperation at a continental level, helping to integrate the previously separate regional organizations of political or economical cooperation such as ASEAN, SAARC

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Asia-Pacific Economic Cooperation (APEC)

Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim countries or regions (styled 'member economies') to discuss the regional economy, cooperation, trade and investment. The membership is claimed to account for approximately 41 percent of the world's population, approximately 56 percent of world GDP and about 49 percent of world trade. The activities, including year-round meetings of the members' ministers, are coordinated by the APEC Secretariat.

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Association of Southeast Asian Nations (ASEAN)

Association of Southeast Asian Nations, commonly referred to as ASEAN, is a geo-political and economic organization of 10 countries located in Southeast Asia, which was formed on August 8, 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. Its aims include the acceleration of economic growth, social progress, cultural development among its members, and the promotion of regional peace.

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A subregional economic cooperation initiative involving 4 Southeast Asia Nations

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Centre on Intergrated Rural Development for Asia and the Pacific (CIRDAP)

The Centre for Integrated Rural Development for Asia and the Pacific (CIRDAP) is a regional intergovernmental and autonomus organization

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Council for Security Cooperation in the Asia Pacific (CSCAP)

The Council for Security Cooperation in the Asia Pacific (CSCAP) is a non-governmental (second track) process for dialogue on security issues in Asia Pacific.

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East Asia Summit (EAS)

The East Asia Summit (EAS) is a Pan-Asia forum of 16 countries in East Asia, with ASEAN in a leadership position.

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