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Philippines Should Change Mindset, Open Up to Free Trade - APEC

© AFP 2023 / JAY DIRECTOA man polishes a car, one of the hundred of new cars that will be used during the Asia Pacific Economic Cooperation (APEC) summit to be held in the Philippines later this month, in Manila on November 8, 2015
A man polishes a car, one of the hundred of new cars that will be used during the Asia Pacific Economic Cooperation (APEC) summit to be held in the Philippines later this month, in Manila on November 8, 2015 - Sputnik International
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The Philippines should change mindset and avail of the opportunities that free trade zones create, Chair of APEC Business Advisory Council (ABAC), representing the Philippines, said on Saturday.

Philippine President Benigno Aquino III addresses the upper house of parliament in Tokyo. - Sputnik International
Asia
US, Philippines Set to Discuss Defense Cooperation Deal During APEC Summit
MANILA (Sputnik) Manila currently hosts the APEC Economic Leaders’ Week, bringing together senior officials and businessmen from 21 Asia-Pacific economies. The sides are discussing various issues of economic cooperation including within the framework of free trade areas.

"We've got to change our mindset. Let's not think that the world is happening to us. We have to come up with our own ideas — what we want to sell, what we want to offer, where we have unique propositions. We have to see the world as our market, beyond our domestic market. Then we have to be really excellent in offering the services, we have to think of clear strategies of how to work together to make ourselves a real player. So number one priority is changing the mindset of how to avail of the opportunities of the free trade," Doris Ho told reporters.

The creation of a free trade zone that would include all APEC members — Free Trade Area of the Asia-Pacific (FTAAP) — is one of the main topics on the Economic Leaders' Week agenda. It is viewed as an alternative to the Trans-Pacific Partnership (TPP), which excludes China and Russia.

The Philippines is not a member of the TPP free trade agreement, comprising 12 Pacific Rim countries, including the United States, Brunei, Chile, New Zealand, Singapore, Australia, Canada, Japan, Malaysia, Mexico, Peru and Vietnam.

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