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Global Free Trade Regime Must Be Fair to All: Arroyo
Visiting Philippine President Gloria Macapagal-Arroyo stated here Wednesday that a global regime of free trade must be fair to all as only fair, free trade is good to her country.
The president made the point while delivering a speech at a lecture organized by the Institute of Policy Studies of Singapore two hours after her arrival.
The president said that "We in the Philippines support a global regime of free trade -- not because we believe in free trade as dogma but because we know that it is good for us."
"But it will be good for us if only free trade is also fair," regardless the poor or the rich, she said.
She said that the search for fair negotiations in the World Trade Organization (WTO) is "so arduous" and the launch of a new round of multilateral trade negotiations is "so uncertain".
The president also affirmed that her country, together with its ASEAN partners, is resolutely against any attempts to chip away at their comparative advantage by "the imposition of arbitrary labor and environment standards, protectionist anti-dumping measures, and trade-distorting agricultural export subsidies that poorer countries cannot match. "
"The philippines sees in this market great potential for our exports and for attracting investments looking to that market.," she said.
In response to questions raised by audience, the president also said that she does not believe China and the Philippines are rivals and holds that China's entry into the WTO will bring about opportunities that can benefit the Philippines.
Arroyo, accompanied by her hunsband and eight cabinet ministers, arrived here this afternoon for a three-day state visit after concluding her visit to Brunei.
She met Singapore President S. R. Nathan soon after her arrival and will meet Singapore Prime Minister Goh Chok Tong and Senior Minister Lee Kuan Yew before leaving on Sunday.
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