In a special session ahead of the Asia Pacific Economic Forum (APEC) Ministers Responsible for Trade (MRT) Meetings, Ambassador Katherine Tai, who is also the U.S. Trade Representative and APEC 2023 MRT Chair, hosted a dialogue among APEC Trade Ministers and prominent labor leaders to discuss the vital link between trade policy and upholding workers’ rights. The Philippines was represented by Trade and Industry Secretary Alfredo Pascual.
The dialogue focused on the submission that trade policy must be workers-centric as workers play an important role in fostering economic growth and development in a country. With the observance that there is still a growing inequality when it comes to workers’ welfare vis-a-vis business growth, the challenge posed during the discussion was how to shape a trade and investment model that will ensure the protection of workers’ rights as economies work towards socio-economic development.
When asked for a comment about incorporating labor as an element of trade policy, Secretary Pascual emphasized, “A strong workforce promotes robust trade and a robust trade should promote a strong workforce. Thus, it is important to keep trade open and the workforce empowered.”
Secretary Pascual further explained while there may be arguments raised for and against the interface of labor and trade policies, the fact remains the stability they bring to the economy far outweighs any perceived adverse concerns. He also stressed in case of disruption in global supply chains, the workers and their families are the ones immediately affected. He further recognized the stability of trade and the resilience of the global supply chain also ensure the welfare of workers and their family.
“As a matter of State policy, no less than the Constitution of the Philippines affirms labor as a primary social economic force, and that it is imperative for us to protect the rights of workers and promote their welfare,” Secretary Pascual added.
Meanwhile, Secretary Pascual also met with Canadian Minister of International Trade, Export Promotion, and Small Business and Economic Development Mary Ng on May 25, 2023 on the sidelines of the APEC – MRT Meetings.
Secretary Pascual lauded the Indo-Pacific Strategy of Canada released in 2022, which highlights a wide range of sectors and significant opportunities for strategic investments and partnerships in the region.
“The Indo-Pacific Strategy is timely and relevant to the intention of Canada to strengthen engagement in the region. We look forward to enhancing trade and investment relations between our countries to support this endeavor, especially in priority sectors such as agriculture and infrastructure,” Secretary Pascual said.
On her part, Minister Ng underscored the robust bilateral trade and investment relations between Canada and the Philippines and affirmed their interest to continue building towards a strategic partnership, especially with ASEAN.
Minister Ng and Secretary Pascual also lauded the progress in the ongoing ASEAN-Canada FTA negotiations, affirming these negotiations are a step towards the envisioned strategic partnership between ASEAN and Canada.
Before closing the meeting, both trade chiefs reaffirmed their shared commitment to working closely together to enhance trade and investment, and advance economic ties and strategic collaboration between the Philippines and Canada.
In 2022, Canada was the Philippines’ 20th largest trading partner, 17th largest export market, and 20th largest import supplier. The Philippines also considers Canada an important investment partner, ranking 21st in 2022 with USD1.01 million in investments, particularly, in administrative and support services, financial and insurance activities, and real estate development.
