The Market Monitor Minding the Nation's Business
Trade Secretary Cristina Roque emphasized the Philippines’ commitment to inclusive digital transformation to enhance its trade and financial ecosystems during the World Economic Forum’s (WEF) annual meeting in Switzerland.
At the Innovative Trade Financing Forum last week, Roque highlighted how the Philippines is leveraging advanced technologies like artificial intelligence (AI) and digital tools to revolutionize supply chains, e-commerce, and services trade.
She pointed to key achievements, such as the country’s removal from the Financial Action Task Force’s grey list and the lifting of the moratorium on digital banks, as milestones in fostering a more dynamic financial system.
Roque also addressed the trade financing gap, advocating for solutions to empower small businesses and improve global competitiveness. She urged policymakers, business leaders, technologists, and advocates to collaborate in building a business ecosystem that benefits all sectors.
The Philippines’ initiatives align with the “Bagong Pilipinas” (New Philippines) vision, which focuses on economic growth and innovation as national priorities.
On the sidelines of the WEF, Roque met with executives from AstraZeneca to discuss potential collaborations in AI and digital health. Talks included expanding clinical trials in the Philippines to support healthcare professionals and improve access to innovative medicines.
“By harnessing AI and digital health, we can revolutionize disease prevention, early detection, and treatment—creating better healthcare systems that benefit both our people and our economy,” Roque said.
AstraZeneca expressed interest in conducting the majority of its clinical trials in the Philippines, citing the nation’s diverse population and strong clinical expertise. The company also committed to exploring affordability initiatives to ensure wider accessibility of its medicines for Filipinos.