Vietnam delegation delivers statement at WTO trade policy review of the Philippines

The review provided WTO members with an opportunity to assess and discuss developments in the Philippines' trade policies since its previous review in 2018. The Philippine Government delegation was led by Undersecretary Allan Gepty of the Department of Trade and Industry.

In his statement, Ambassador Mai Phan Dung commended the Philippines for its remarkable resilience amid global uncertainties. He noted that the country is approaching the World Bank's upper-middle-income threshold, with GDP per capita rising significantly from USD 3,280 in 2018 to USD 4,279 in 2025. The country's labor market has also recorded encouraging progress, with the unemployment rate falling to just 4.2% in 2025.

Ambassador Mai Phan Dung emphasized that Vietnam and the Philippines are particularly important trading partners with deep economic integration within ASEAN. As evidence of this close partnership, 99.27% of tariff lines have been eliminated for Vietnam under the ASEAN Free Trade Area (AFTA). In 2024 alone, Vietnam's merchandise exports to the Philippines reached USD 5.7 billion.

He further highlighted that the official elevation of bilateral ties to an Enhanced Strategic Partnership on June 1, 2026, is expected to provide a solid foundation for fostering a stable, dynamic and sustainable business environment while creating fresh momentum for bilateral trade and investment cooperation.

At the multilateral level, Vietnam acknowledged and commended the Philippines' active role as a founding member of the WTO. This has been demonstrated through several notable achievements, including the ratification of the Agreement on Fisheries Subsidies in February 2024; participation in the Information Technology Agreement (ITA) Expansion and the Multi-Party Interim Appeal Arbitration Arrangement (MPIA); co-sponsorship of the Joint Statement Initiative on Electronic Commerce; and active contributions to the Informal Working Groups on Trade and Gender and on Micro, Small and Medium-sized Enterprises (MSMEs).

Vietnam also recognized the Philippines' efforts to improve its investment climate and streamline administrative procedures through the implementation of a Green Lane mechanism for strategic investment projects. In addition, the country has abolished rice import quotas in favor of a tariff-based regime under the Rice Tariffication Law, thereby fulfilling its WTO commitments.

While recognizing the Philippines' positive achievements in trade policy reform and economic development, Vietnam also expressed concern over several recently introduced temporary import management measures and domestic stockpiling policies. The delegation noted the potential impact of price ceiling measures and safeguard actions on rice imports, which could adversely affect bilateral trade flows. Vietnam encouraged the Philippines to continue close consultations with its trading partners and to ensure that all trade remedy investigations are conducted in a transparent, objective and WTO-consistent manner, thereby facilitating trade and further strengthening bilateral economic and trade relations between the two countries.

The Trade Policy Review of the Philippines will continue and is scheduled to conclude on June 26.