‘Inclusive, sustainable’ trade systems pushed By Andrea E. San Juan
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HE United Nations Economic and Social Commission for Asia and the Pacific (Escap) is urging governments to fast-track efforts to make trade systems more “inclusive and sustainable,” as there is “limited” support for vulnerable groups such as small and medium-sized enterprises, women traders and the agricultural sector despite “steady progress” in broader trade facilitation. In a statement on Wednesday, Armida Salsiah Alisjahbana, United Nations Under-Secretary-General and Executive Secretary of the
Economic and Social Commission for Asia and the Pacific (ESCAP) underscored that with the “unprecedented” challenges that the global trading environment has recently been facing, there is an urgent need to enhance “efficiency, transparency and resilience” of international trade systems. “Extensive tariff measures have introduced uncertainty and increased trade costs, while broader disruptions have exposed vulnerabilities in global supply chains,” Alisjahbana said, adding that these trends underscore the “urgent need” to enhance the efficiency, transparency and resilience of international trade systems. According to the sixth United
Nations Global Survey on Digital and Sustainable Trade Facilitation, progress has been observed in more efficient trade facilitation with the global implementation rate improving by five percentage points over the last two years. The global average implementation rate currently stands at 70 percent, Unescap noted. “Developed economies performed strongly [86 percent] followed by countries in South-East and East Asia [81 percent]. Pacific countries have the lowest implementation rate at 45 percent,” added Unescap. In the Asia-Pacific region, overall trade facilitation implementation increased by 5 percentage
points between 2023 and 2025, with the highest rates observed in Australia and New Zealand, as well as East and North-East Asia. “Implementation of measures under the WTO Trade Facilitation Agreement remains robust, while cross-border paperless trade facilitation has shown the greatest improvement. Improvements in legal frameworks for electronic transactions and digital authentication also signal growing commitment to modernizing trade,” Unescap noted. Meanwhile, regional and subregional initiatives such as the Framework Agreement on Facilitation of Cross-border Paperless See “Inclusive,” A2
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WAITING TO EXHALE ON TARIFFS IMPOSED BY U.S. www.businessmirror.com.ph
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By Cai U. Ordinario @caiordinario
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HE Philippines is still in a waiting game when it comes to the decision of the United States on the tariffs imposed on local goods entering the American market. BEHIND THE WALL: PHL Still Waits as US Delays Trade Decision Who Got Their Letters?
What Do Philippine Exports Face? Paused Reciprocal Tariff: 17% Current PHL Export Tariff: 10%
n Status Quo (10%) Moderate competitiveness Small net gain over Asean peers
Waiting for Washington: What’s the Hold-Up?
April 2, 2025 Countries knew their tariff schedules
Post-April 2025 PH tariff guidance now arriving in “trickles”
Deadline July 2025 August 1, 2025, US Executive Order extended 12:01 AM EDT tariff review
Department of Economy, Planning, and Development (DEPDev) Undersecretary Rosemarie G. Edillon told reporters on Wednesday that the country is still awaiting the final word on the exact tariffs that will be imposed on local goods shipped to the United States. Under the reciprocal tariffs, the implementation of which has been paused by the Trump administration, Philippine goods will be slapped with a 17-percent tariff. Currently, the US imposes a 10-percent tariff on Philippine
n Return to 5–6% Major gain, increased export potential
n 17% Tariff Reinstated Export costs spike Loss of competitiveness in US market
❝The Philippines could still have ‘a small net gain’ because compared to its Asean peers, the United States imposed the lowest tariff on Philippine exports. ❞ — Undersecretary
Rosemarie G. Edillon, DEPDev
BM Graphics: Ed Davad | Sources: PSA, DEPDev
Potential Economic Impact for PHL
Preferred Historical Rate: 5–6%
exports. “I think that’s not uncertain, [but] we’re still waiting for that letter. Actually, it’s now a different situation than before. Because in April 2 we knew [how much would be imposed for everybody], what’s the tariff schedule. But right now, it’s coming in trickles,” Edillon said. This week, in an Executive Order, the White House announced that it is extending the modification of the reciprocal tariff rates until 12:01 a.m. Eastern Daylight See “Waiting,” A2
DOF BACKS REFORM OF GLOBAL FINANCIAL ARCHITECTURE By Reine Juvierre S. Alberto
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HE Department of Finance (DOF) has pushed for a reform of the international financial architecture (IFA) to better represent middle-income countries and enhance access to development finance. DOF International Finance Group Undersecretary Joven Balbosa expressed the Phil-
ippines’s commitment to address the specific challenges of middle-income countries in the “Compromiso de Sevilla.” “We join calls to urgently reform the international financial architecture through enhanced representation of developing countries, review of policies on surcharges and SDRs [special drawing rights], and increases of quota shares, among others,” Balbosa said. See “DOF,” A2
A BLOW FOR CYBER SECURITY Ambassador Burhan Gafoor of Singapore (top left and upper photo) presides at the opening of the 11th and final substantive session of the Open-Ended Working
Group (OEWG) on cyber security under the auspices of the United Nations in New York. The session brought together delegates from around the world to address growing cybersecurity threats – notably, risks from ransomware to healthcare systems, from emerging technologies like generative AI and quantum computing, as well as cyber-militarization and foreign interference through disinformation and chart. The goal: to forge a path toward a more stable and secure digital future. Gafoor told delegates, “We are nearing the finish line of a five-year process,” and expressed hope the work can be done despite rising geopolitical tensions. Story below. TROI SANTOS
UN session tackles cyber security risks N
By Troi Santos
EW YORK—The risks of ransomware to healthcare systems, and from emerging technologies like generative AI and quantum computing, as well as cyber-militarization and foreign interference through disinformation were recently tackled in a session on cyber security at the United Nations. Ambassador Burhan Gafoor of Singapore presided over the opening of the 11th and final substantive session of the Open-Ended
Working Group (OEWG) on the security of and in the use of Information and Communications Technologies (ICTs) under the auspices of the United Nations. The session at the UN Headquarters in New York brought together delegates from around the world to address growing cybersecurity threats and chart a path toward a more stable and secure digital future. During the reception hosted at the Singapore Mission to the UN following the session’s opening, Ambassador Gafoor emphasized
the urgency and ambition of this final phase. He expressed his expectation that the Working Group will reach consensus on a permanent, action-oriented framework that ensures the peaceful and responsible use of ICTs by all Member States. “We are nearing the finish line of a five-year process,” he told delegates earlier in the day, calling for sustained momentum despite rising geopolitical tensions. UN Under-Secretary-General and High Representative for Disarmament Affairs Izumi Nakamitsu
echoed this call for unity, warning that the rapid pace of technological advances is outstripping the capacity of global governance. She described the OEWG as a “unique opportunity” to establish a single-track, permanent mechanism within the UN system to deal with cyber threats and digital peacebuilding. Earlier transcripts from the 10th session—held in February 2025— laid the groundwork for this moment. Delegates from the African Group, the European Union, China, See “UN,” A2
PESO EXCHANGE RATES n US 56.4460 n JAPAN 0.3852 n UK 76.7383 n HK 7.1911 n CHINA 7.8638 n SINGAPORE 44.1225 n AUSTRALIA 36.8310 n EU 66.1886 n KOREA 0.0411 n SAUDI ARABIA 15.0506 Source: BSP (July 9, 2025)