President Ferdinand R. Marcos Jr. committed to improving trade and industry standards through various trade and investment frameworks to foster a more competitive region in the future.
The President made these remarks during the Philippine Strategic Trade Management (STM) Summit 2024 in Taguig City on Monday.
“We will continue to upgrade industry standards, modernize regulations, and further establish linkages through various trade and investment frameworks such as the ASEAN, Asia Pacific Economic Cooperation, Regional Comprehensive Economic Partnership, the Indo-Pacific Economic Framework for Prosperity, all these so that we can see a more competitive region in the future,” President Marcos said.
“One country cannot do this alone. Each of us, no matter the race, the color, or belief has a clear stake in building a more secure and prosperous world,” he added.
“Let this occasion be a reminder to renew important conversations and to reinforce our commitment to creating what we refer to as Bagong Pilipinas that is not only safe and secure but filled with promising opportunities for all.”
The Chief Executive emphasized that the Philippines has already launched a strategic investment plan focused on developing key industries, empowering the country to secure a better position in the global market.
“We have developed policies that require individuals and entities engaging in STMA-covered activities to register and to receive authorization to deliver their services,” he said.
“We have also implemented programs to educate not only the border control and import/export officers in fulfilling their responsibilities but also stakeholders to properly comply with our rules and our regulations,” he added.
President Marcos noted that the government has been conducting post-authorization audits, compliance checks, and consultations through monitoring and inspection activities.
The summit is an annual export control forum focusing on regulatory updates and best practices for the implementation of STM systems in the country.
It also serves as a platform to discuss counterproliferation challenges, such as emerging technology, intangible technology transfer, transit and transshipment, and sanctions.
Around 300 delegates from various local and international organizations attended the forum, led by Trade and Industry Secretary Ma. Cristina Aldeguer-Roque, Foreign Affairs Secretary Enrique Manalo, and US Ambassador to the Philippines MaryKay Carlson. PND
