Philippines signs 2nd protocol to ASEAN-Australia-New Zealand FTA

08 Mar '24

1 min read

Pic: GOVPH

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The Philippines has signed the second protocol to the ASEAN-Australia-New Zealand FTA, which is likely to offer better opportunities for the country's MSMEs, President Ferdinand Marcos Jr. told the ASEAN-Australia Special Summit in Melbourne recently.
It will improve the country's access to markets, participation in global value chains and use of e-commerce.

The Philippines has signed the second protocol to the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), which is likely to offer better opportunities for the country’s micro, small and medium enterprises (MSMEs), according to President Ferdinand Marcos Jr.

The agreement will improve his country’s access to markets, participation in global value chains and use of e-commerce, Marcos told the Leaders' Plenary Session at the ASEAN-Australia Special Summit in Melbourne recently.

The AANZFTA will continue to respond to the evolving multidimensional challenges in the business environment and complement region-to-region efforts to strengthen supply chain resilience, the expansion of trade and investment, inclusiveness and sustainable development, he said.

"The Protocol will indeed benefit micro, small, and medium enterprises (MSMEs) inasmuch as it facilitates their participation in international trade by improving their access to markets and participation in the global value chains, as well as promoting the use of e-commerce," he was quoted as saying by domestic media reports.

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