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Finance ministers and central bank governors from the Association of Southeast Asian Nations (Asean) are meeting next week in Mactan island in the province of Cebu to discuss ways of fleshing out Asean’s commitments to financial integration and cooperation against the backdrop of a new wave of protectionism and other uncertainties in the global economy. 

The Department of Agriculture (DA) turned over P20 million worth of agricultural production inputs and facilities to Bicol last Friday during a dialogue attended by 600 farmers-leaders and local officials in Ligao City, Albay. 

A regional grouping of food and beverage stakeholders seeks to fast-track the harmonization of food standards, particularly nutritional labeling, in the Association of Southeast Asian Nations (Asean), saying it is key to the industry’s growth. 

The Philippines will continuously implement wealth accounting initiatives needed to sustain long-term development, the country’s chief economic planner said. 

The government should consider including farmers under coverage of the cash transfer program as a result of the lifting of restrictions on rice imports this year that will signal greater competition among foreign suppliers and rice importers, as well as a decline in domestic prices, which will likely reduce farmers’ income, state thinktank Philippine Institute for Development Studies (PIDS) said. 

By Luis Leoncio  Former President Gloria Macapagal-Arroyo, in whose term economic experts attributed the start of critical economic reforms that had propelled growth, gave the most convincing argument in favor of Congress passing a complete tax-reform package, saying that revenues shrank during her term after the piecemeal approval of fiscal reforms. 

The Philippines is expected to grow at the fastest pace among key Southeast Asian economies until next year, while the regional bloc as a whole continues to evolve into a fertile ground for investors, regional investment powerhouse Maybank Kim Eng Group said. 

Several infractions with tax laws were slapped against local cigarette producer Mighty Corp. that saw the company, once bruited as a threat to multinational tobacco companies, fall in disgrace. 

By Riza Lozada  Local business groups wanted their voices heard in the crafting of trade strategies as they reiterated that government-private sector collaboration is now more critical than ever in formulating policies, especially those concerning foreign trade negotiations, to ensure Philippine interests are promoted. 

The local business process outsourcing (BPO) sector will continue to have US companies to remain its largest market even in the next few years, despite the inward-looking policy of United States President Donald Trump.