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Tuesday, December 27, 2005
Espinoza: Gearing up for the challenges of globalization
By Fred C. Espinoza
ACCORD. One thing’s certain about the outcome of the recently concluded 6th World Trade Organization (WTO) ministers’ meeting from the 140 WTO countries is that the world trade body has committed “to advance the Doha Round of negotiations with a view of finalizing a global accord by the end of 2006.”
Philippine negotiators are saying the talks have provided the country more time to gear up for the challenges of globalization.
After reviewing my file of various reports on the talks, I was happy to realize that indeed our negotiators have proved themselves equal to the tasks facing them in a global village. They have not been only able to see their way through the contentious issues, but also provided the nation with enough insight on the growing maturity of small nations to band together and put some sense into the much talked about world economic order.
First of all, despite widespread predictions of failure repeated throughout the grueling six-day meeting, ministers from 140 counties have approved a joint declaration “that kept alive hopes for a global deal by 2006,” the report said.
It should be recalled that talks on the global accord opened with the Philippines “seeking to protect its interests while, at the same time, sticking to the aim of opening markets worldwide.
The Philippine delegation to the 6th WTO Ministerial Conference was headed by Trade Secretary Peter Favila.
Other officials in the delegation were Agriculture Secretary Domingo Panga-niban, Agriculture Undersecretary Segfredo Serrano and Trade Undersecretary Thomas Aquino, all said to be “no strangers to WTO talks.”
For the first time, it’s good to know that a group of 90 “developing countries, including the Philippines,” has won the first round in the recently concluded talks global talks.
To explain the significance behind the talks, our negotiators said: “basically, we were able to buy time to push back the implementation of a new agreement.”
Nevertheless, the question now is how long will the alliance hold? Will it hold until 2006? Perhaps this could be an opportunity for our businessmen to realize that preparing themselves now for further liberalization after the close of the WTO talks last week would be crucial to their interests and survival in the market.
International trade and customs consultant Jeremy Gatdula said what was achieved in the 6th WTO ministers’ meeting in Hong Kong “gave developing nations, the Philippines included, ample time to prepare tighter competition.”
Those involved in agriculture and fisheries were among the sectors which were asked to be prepared for tighter competition, even as the approved draft text in the six-day meeting sought to end agricultural subsidies by 2013 and establish full modalities, the report said.
On the part of Trade undersecretary Aquino, he has these wise words for our players in the service sector: “The services sector can be considered uncharted territory as the WTO tries to subject it rules under the General Agreement on Trade and Services.”
He added, “Globalization is a two-way street. Opening up the services sector of other countries (should also) present opportunities for local businessmen.”
On the other hand, the Philippines, the report said, has found a strong ally in countries like Indonesia and Jamaica and other least developed countries belonging to the African, Carribean and the Pacific bloc, which balked at moves to force them to open up more services industries.
From all indications, it would do well for our players in the service sector to prepare for tighter competition instead of merely hoping for a better deal that could be forged with other friendly countries.
It should be borne in mind, however, that the WTO retained the so-called request “offer negotiations modality which is flexible and recognizes the different levels of development of member countries” and which, to my little understanding, means that it has become impossible for our businessmen to avoid the prospects of full liberalization as well as the rigors of tighter competition in the immediate years to come.
It appears that the only avenue to take would be to shape up early and bite the bullet, so to speak.
(December 27, 2005 issue)
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