Duterte criticizes major economic powers for protectionist policies that hurt Asean
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Duterte criticizes major economic powers for protectionist policies that hurt Asean

in News/Tabloid PH News

While not directly naming them, President Duterte criticized the “major economic powers” for their protectionist policies and trade skirmishes that are threatening the growth of the Asean region.

In his address at the 35th Asean Summit Plenary in Thailand, Duterte said the rise of protectionism and ongoing trade wars undermine the progress of the Asean economies. “The far-reaching consequences may adversely impact on food security in the developing world.”

With this, the President called on the Asean to strengthen and deepen their economic integration to counter protectionism and trade-related tensions happening in other parts of the world.

Currently embroiled in trade wars are China and the US, as well as Japan and South Korea, among others.

“We need an open and rules-based trading system to sustain growth. Thus, we should ensure the continued relevance and effectiveness of the World Trade Organization. And, Asean must accelerate deeper economic integration through concrete programs and projects, such as RCEP [Regional Comprehensive Economic Partnership],” Duterte said.

The RCEP is an emerging economic bloc composed of the 10 Asean member-countries plus their free-trade partners China, Japan, India, South Korean, Australia and New Zealand. Collectively, they account for about 40 percent of world GDP and about half of the world’s population.

Duterte noted that the Asean declarations and joint statements that aim to protect the region’s population, especially the most vulnerable, are steps toward sustainable and inclusive development.

He also called for more measures that allow the greater direct benefit to certain sectors of the population, including the expansion of Mutual Recognition Agreements (MRAs) and the empowerment of women, migrant workers and persons with disabilities.

Key components of these MRAs are the harmonization of standards on nurses and other healthcare professionals.

Duterte also called on Asean to ensure environmental sustainability and protect biodiversity in the region’s pursuit for development. 

“Asean should not sacrifice the environment and the region’s rich biodiversity, particularly in the maritime domain, in its quest for progress. We must work together to address the problem of marine debris. And we must build resilient and stronger communities to adapt to the effects of climate change,” he stressed.

Duterte added that the regional grouping should support economic sectors of high productivity and follow sustainable business practices.

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