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Impact of Trans-Pacific Partnership (TPP) on Philippine Commodities

This presentation explores the impact of the Trans-Pacific Partnership (TPP) on the local commodities of the Philippines. It includes an introduction to TPP, data sources, regression analysis, relevant statistics, and conclusions for the way forward in terms of trade policies and economic strategies for the country.

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Impact of Trans-Pacific Partnership (TPP) on Philippine Commodities

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  1. The Trans Pacific Partnership (TPP) and the Philippine Local Commodities By Mark C. Pascasio, Polaris C. Bautista, Anthony B. Abalos, Jonarie R. Vergara, and Sarah Mae A. Manuel Presented by Mark C. Pascasio and Jonarie R. Vergara Philippine Statistics Authority

  2. Outline of Presentation • Introduction on the Trans Pacific Partnership • Data Sources • Regression Analysis • Relevant Statistics • Conclusion and Way Forward

  3. I. Introduction on the Trans Pacific Partnership • Establishment of ASEAN in 1967 • ASEAN Free Trade Area (AFTA) was established during the 1992 ASEAN Summit • Aside from AFTA, numerous agreements were inked by the Philippines together with the ASEAN countries: • ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) • ASEAN-China Free Trade Agreement (ACFTA) • ASEAN-India Free Trade Agreement (AIFTA) • ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEPA) • ASEAN-Korea Free Trade Agreement (AKFTA) • Philippine-Japan Economic Partnership Agreement (PJEPA)

  4. I. Introduction on the Trans Pacific Partnership • TPP is a trade agreement among 12 Pacific Rim countries • Expansion of Trans-Pacific Strategic Economic Partnership Agreement • Aims to: • promote economic growth • support the creation and retention of jobs • enhance innovation, productivity and competitiveness; • raise living standards; reduce poverty; and • promote transparency, good governance and enhanced labor and environmental protection • Benefit trade by eliminating or reducing tariffs, lowering the cost of trade and setting new standards for global trade

  5. II. Data Sources • World Bank Indicators from World Bank • Foreign Trade Statistics of PSA • Gross Value Added ratio of several commodities and industries from the Quarterly National Accounts of the Philippines (NAP)

  6. IV. Relevant Statistics • USA and Japan remain the Top 2 destination of our goods • China enters in the Top 5

  7. IV. Relevant Statistics • China is our Top supplier of goods in 2011 to 2015 period • Singapore is the lone ASEAN country in the Top 5 in 2001 to 2010

  8. IV. Relevant Statistics • Agricultural Products shared only more than 2.0 percent of the total exports of goods of the country in the period 2001 to 2010 • Electronic products are our top exports

  9. IV. Relevant Statistics • Transport equipment and machinery and mechanical products are part of our fixed capital formation • Electronic products are our top imports

  10. IV. Relevant Statistics • Agricultural commodities have higher GVAr which is almost 1.0

  11. IV. Relevant Statistics • Agriculture related products have higher GVAr • Electronic products have lower GVAr

  12. V. Conclusion and Way Forward • Further investigate the effect of TPP to the Philippine economy • Examine other factors stated in the TPP provisions i.e., foreign direct investments, employment, etc. • Revisit the trade policies considering our comparative advantage • Diversify our commodities and explore other markets where we can trade our products

  13. Thank you and Mabuhay. m.pascasio@psa.gov.ph ead.staff@psa.gov.ph

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