Trade and Investment
In the last decade, the resource-rich Philippines has bet heavily on the mining industry as a development strategy, an approach that has come under growing scrutiny. With 47 large-scale mines in operation and growing evidence of their social and environmental costs, all the presidential candidates in May 2016 election were forced to explain their position on, and their financial ties to, the extractive industry. Most candidates, including President-elect Rodrigo Duterte, argued for “responsible mining” and an end to “exploitative contracts”.
The first round of negotiations for an EU-Philippines Free Trade Agreement will commence next week (May 23-27) in Brussels, Belgium. A 60-person strong Philippine delegation led by outgoing DTI Secretary Adrian Cristobal, Jr will negotiate on behalf of the Philippines. The EU-PH FTA has been criticised by civil society groups for its ambitious agenda that will imperil peoples rights and national sovereignty. These talks follow the signing last month of another trade agreement with the European Free Trade Area (EFTA) States.
20 May 2016
By: Dorothy Grace Guerrero*originally published by Asienhaus
It is hardly known to German taxpayers, that they are one of the major shareholders in the Asian Development Bank (ADB). Even less is known about the role it plays, through its contributions and voting power, in this financial institution that is shaping the economies of many Asian countries.