Ilonggos to brace for 2015 Asean integration-A A +A
Wednesday, March 19, 2014
SOCIOECONOMIC Planning Secretary Arsenio M. Balisacan said Ilonggos must be ready to respond to the economic challenges for the Association of Southeast Asia Nations (Asean) ministerial meetings in 2015.
Iloilo City was also selected to host at least one ministerial meetings of the Asia Pacific Economic Council (Apec) in October 2015 which will be participated by more than 1,800 delegates from 21 member nations.
City Mayor Jed Patrick Mabilog said the city can afford to host two or more Apec ministerial meetings by preparing all amenities, including hotels, an international convention center, and widening of roads leading to the city, among others.
The Asean Economic Community (AEC) 2015 forum conducted in this city last week focused on the Asean Economic Community (AEC) integration which tackled free flow of goods, services, investments, capital, and skilled labor.
Competitions like price wars and unemployment among the Asean member nations were also eyed as consequences.
Balisacan said the important thing to do is “prepare our institutions and prepare our economy in order to be ready to face the challenges that the integration will bring.”
Balisacan said the Philippines stands to benefit from the continued liberalization of the services sector as it is one of the fastest growing sectors in the country accounting for 53 percent of the country’s labor force in 2013.