Why Is Philippines Still Interested In Joining TPP?

Philippine is still interested in joining.

The Philippine Ministry of industry in China World Trade Center is studying the feasibility of joining TPP.

Philippine has shown interest in joining TPP in order to gain access to other participating countries.

Opportunity benefits; Philippine countries are studying regulations and conducting feasibility studies.

Although the details of the study were not published, the Ministry of labour of China World Trade Center indicated that the current situation of foreign trade policy is in line with the government's position, namely, maintaining the economic policy of the former Aquino administration.

The former Minister of Gregory L. Domingo and Adrian S.Cristobal Jr. of Philippine Ministry of labour said that China World Trade Center had to join TPP so as not to miss it.

People invest outside.

The trade agreement will eliminate tariffs of 98% among TPP members, and help Vietnam and Malaysia increase their exports to other TPP countries, especially the largest consumer market in the world and account for 30% of global consumption.

Dr. Cielito F. Habito Minister of the former Ministry of social and economic planning of Philippines should also say that some companies in Philippines are ready to invest in Vietnam so that they can enjoy TPP duty-free preferences and enter the US market, especially the garment and textile industry has begun to pour into Vietnam.

Former Habito minister also pointed out that the trade agreement between the 12 member states is still subject to the approval of the US Congress and signed by governments. Because the Republican and Democratic presidential candidates all expressed dislike for TPP, the approval process still has obstacles.

Former Habito minister quoted Philippines university research as saying that adding TPP to the Philippines can increase exports by 42%. If it fails to join TPP, Vietnam will attract more investment and get orders for textiles, clothing and petroleum.