Tag: trade

Cambodia a potential new source of rice for the Philippines

Cambodia a potential new source of rice for the Philippines

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While living here in the Philippines doing your daily chores and fulfilling other objectives, do you still remember how much money did you spend buying rice grain for your household over the last six months? Do you find the current prices of rice expensive nowadays? As far as rice is concerned, the nation of Cambodia could become the next new source of rice grain for the Philippines, according to a news article published by the Philippine News Agency (PNA).

To put things in perspective, posted below is the excerpt from the PNA news article. Some parts in boldface…

Cambodia is exploring opportunities to directly export rice to the Philippines, offering an alternative and cheaper source of rice for the country.

Department of Trade and Industry (DTI) Secretary Alfredo Pascual met with a Cambodian delegation on Thursday, led by chief executive officer of the state-owned Green Trade Company Chan Sokty and the president of the Cambodia Rice Federation Okhna Chan Sokheang.

Green Trade is the counterpart of DTI’s Philippine International Trading Corp. (PITC).

The Cambodian delegates are also exploring exporting rice through a government-to-government arrangement between Green Trade and PITC.

“They are still in the fact-finding stage. They are surveying our markets,” Pascual told reporters.

Pascual said Cambodia has a rice surplus of 50 percent of its total rice production, and the Southeast Asian country intends to sell it directly to neighboring countries and also in Europe.

Cambodian rice can enter the Philippine market at 35 percent tariff rate.

Pascual added the Cambodian delegates said they can commit to supply 3 million metric tons of rice to the Philippines, which is the level of imported rice by the country in 2022.

Earlier, Go Negosyo founder and ASEAN Business Advisory Council chair Joey Concepcion said Cambodia expressed intention to directly export unmilled rice to the Philippines on the sidelines of the ASEAN Summit in November 2022.

Concepcion then said Cambodia exports unprocessed rice to Vietnam, wherein the country processes the rice before exporting to other countries like the Philippines.

More than 80 percent of the country’s rice imports are sourced from Vietnam, according to the Bureau of Plant Industry.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think rice imported from Cambodia will surely bring down the local rice prices?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

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I Love Israel: Joint Economic Commission (JEC) established by Israel and the Philippines

I Love Israel: Joint Economic Commission (JEC) established by Israel and the Philippines

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Trade between Israel and the Philippines could improve and help develop each other economically in the years to come as the two nations strengthened their ties further by establishing the Joint Economic Commission (JEC), according to a recent report by BusinessWorld.

To put things in perspective, posted below is the excerpt from the BusinessWorld report. Some parts in boldface…

THE Philippines and Israel said they formed a Joint Economic Commission (JEC) that will explore pathways to improving trade.

In a statement on Thursday, the Department of Trade and Industry (DTI) said Trade Secretary Ramon M. Lopez signed a memorandum of understanding (MoU) with Israel Economy and Industry Minister Orna Barbivai in Jerusalem on June 7 that created the JEC.

“The MoU seeks the establishment of a bilateral consultative mechanism that will develop and strengthen trade, enhance investments, and advance economic ties between the Philippines and Israel,” the DTI said.

“In establishing a JEC, the two countries agree to exchange information on economic issues, identify and implement cooperative projects, organize consultations, missions, and official visits and enhance cooperation and linkages with their respective private sector,” it added.

The DTI said the MoU will seek to explore industries where the two countries can collaborate with a view towards diversifying trade and investments.

He added that priority sectors for promotion include agribusiness/agriculture production, energy efficiency technologies and renewable energy, infrastructure and public-private partnership (PPP) projects in infrastructure, real estate development, logistics, artificial intelligence, information technology and business process management (IT-BPM) including shared services, electronics manufacturing, and digital infrastructure.

Mr. Lopez told reporters via Viber that the initial investments from the investment promotion and protection agreement (IPPA) between the Philippines and Israel could bring around $150 million in investment in 2022.

“Early harvest could be around $150 million this year,” Mr. Lopez said.

Also signed on June 7, the IPPA provides the framework for a closer investment relationship between Israel and Philippines. It also specifies investment protection elements such as national treatment, most favored nation treatment, free transfers, rules-based expropriation and compensation, and investor-state dispute settlement.

The DTI also recently signed an MoU seeking to strengthen cooperation with the Israel Innovation Authority.

This newest development is undoubtedly critical as both the Philippines and Israel share the same goal of recovering from the damage of the COVID-19 crisis and emerging stronger economically and socially. The JEC between the two nations is something we must be thankful to God for.

If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful (not religious), you should be aware that Christians are meant to stand united with Israel, love the Jewish people and pray for the peace of Jerusalem. You can do your part supporting Israel by donating to Christians United for Israel (CUFI). Do not forget to read the Holy Bible, then pray in tongues to the Lord in the privacy of your room with the door shut.

Always be the fearless and aggressive church of Lord Jesus! Always stand in support of Israel!

In ending this I Love Israel piece, posted below are Israel-related videos for your viewing pleasure and enlightenment.

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco/

I Love Israel: Israel and the Philippines sign business agreement

I Love Israel: Israel and the Philippines sign business agreement

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The relationship between Israel and the Philippines moved forward some more as they recently signed a major agreement related to investments and economic cooperation, according to a news report by The Jerusalem Post.

To put things in perspective, posted below is the excerpt from report of The Jerusalem Post news report. Some parts in boldface…

Finance Minister Avigdor Liberman and Filipino Secretary of Trade and Industry Ramon Lopez signed an agreement on Tuesday that encourages and protects investments between Israel and the Philippines.

The trade deal

The deal aims to create an investment environment that encourages economic activity by providing a basket of commitments to investors from both Israel and the Philippines. It is expected to provide security and stability to foreign investors and encourage capital movements between the two countries. It covers regulatory issues, prevention of expropriation of assets, free flow of capital and advanced protection mechanisms for the rights of foreign investors in the host country.

“The investment protection agreement signed will help develop economic ties between the countries,” Liberman said. “The commitment between the countries to encourage mutual investment and provide optimal conditions for investors will strengthen existing economic activity and enable new opportunities for the private sector in both countries.”

The Philippines’ economy has grown significantly in the last decade, averaging about 6.4% annually from 2010-2019, according to the World Bank.

Following the coronavirus pandemic, the Philippines managed to bounce back from a 35% decline in global investment flow in 2020, increasing its incoming investment almost 30% this year.

“The high growth in the Philippines over the last decade and the increase in investment flows to it, together with the agreement signed, will strengthen economic cooperation and increase investment between the countries,” said Shira Greenberg, the Finance Ministry’s chief economist.

“The Philippines is a major partner in significant Asia-Pacific regional trade agreements, and in conjunction with the investment agreement signed today, it will open up new opportunities for Israeli companies and investors operating in these markets,” she said.

In recent times, the initial batch of Filipino hotel workers were sent to Israel to help its hospitality/tourism industry. Already the State of Israel is looking forward to stronger bilateral ties with the Philippines under the incoming administration of new President Ferdinand “Bongbong” Marcos. Marcos, who had met Israeli Ambassador Ilan Fluss, will formally take office on June 30, 2022.

As for this most recent development between the Republic of the Philippines and the State of Israel, the agreement can lead to a new wave of investments and even business innovation between them. Both nations have their own populations of not just trained workers but also entrepreneurs and investors (both individuals and organizations) who can visit the other nation for fresh opportunities to progress and prosper. Israel itself has an enduring record of being a hot spot for business innovation and startups. As such, the protection of investments between Israel and the Philippines is indeed crucial. This newest development is something we can all be thankful to the Lord for.

If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful (not religious), you should be aware that Christians are meant to stand united with Israel, love the Jewish people and pray for the peace of Jerusalem. You can do your part supporting Israel by donating to Christians United for Israel (CUFI). Do not forget to read the Holy Bible, then pray in tongues to the Lord in the privacy of your room with the door shut.

Always be the fearless and aggressive church of Lord Jesus! Always stand in support of Israel!

In ending this I Love Israel piece, posted below are Israel-related videos plus Philippine news videos for your viewing pleasure and enlightenment.

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/  and on Instagram at https://www.instagram.com/authorcarlocarrasco/

COVID-19 Crisis: MECQ for NCR Plus extended until May 14, 2021

COVID-19 Crisis: MECQ for NCR Plus extended until May 14, 2021

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After weeks of anticipation by the public, President Rodrigo Duterte announced the other night the extension of modified enhanced community quarantine (MECQ) until May 14, 2021 for the National Capital Region (NCR) plus the bordering provinces of Bulacan, Cavite, Laguna and Rizal. In connection to this, Duterte apologized.

To put things about the extended MECQ in perspective, posted below is an excerpt from the Philippine News Agency (PNA) article. Some parts in bold…

“Modified enhanced community quarantine. Modified ito so medyo strict. NCR, Bulacan, Cavite, Laguna, Rizal (Modified enhanced community quarantine – modified, meaning somehow strict – will be imposed in NCR, Bulacan, Cavite, Laguna, and Rizal),” Duterte said in his talk to the people.

MECQ will be implemented in NCR Plus, composed of Metro Manila, Bulacan, Cavite, Laguna, and Rizal, MECQ until May 14, Presidential Spokesperson Harry Roque said in a separate press statement.

Quirino and Abra provinces, as well as the City of Santiago in Isabela, will also stay under MECQ for the whole month of May, Duterte said.

On the other hand, the more relaxed general community quarantine (GCQ) will be imposed in Apayao, Baguio City, Benguet, Ifugao, Kalinga, Mountain Province, Cagayan, Isabela, Nueva Vizcaya, Batangas, Quezon, Tacloban City, Iligan City, Davao City, and Lanao del Sur from May 1 to 31.

The rest of the country will remain under the least restrictive modified GCQ (MGCQ).

Roque said the latest quarantine status is still “subject to the appeals of local government units.”

The government is targeting to lower health care and intensive care unit (ICU) utilization rates to ease the quarantine protocols in the country amid the coronavirus disease 2019 (Covid-19) pandemic.

In recent times, the daily count of new COVID-19 cases in the Philippines fell below 10,000. It was reported the other day that the new COVID-19 cases was at 6,895 nationwide. Still the nation has over 1,000,000 COVID-19 cases grand total (including recoveries) and the secured vaccines cannot arrive fast enough from overseas. Also, it will take a lot of time before the local production of vaccines will become a reality in the nation.

Apart from public health, more attention should be paid on the economy which has been set back a lot since the latest ECQ (enhanced community quarantine). The current MECQ meanwhile resulted 13% of micro, small and medium enterprises (MSMEs) to stay closed specifically in the NCR Plus zone.

More on the economy, Department of Trade and Industry (DTI) Secretary Ramon Lopez is pushing to help the economy by recommending a flexible MECQ in NCR Plus with gradual reopening of labor-intensive sectors in mind.

For perspective, posted below is an excerpt for the Philippine News Agency article. Some parts in bold…

In a radio interview Thursday, Lopez said the agency is eyeing to reopen personal care services with a limited capacity of 20 to 30 percent as well as dine-in services in food establishments by 10 to 20 percent.

“Ni-recommend ho kasi naming ‘yong MECQ with flexibility. We are just after sa pagbabalik ng trabaho, pero yung higpit naman ng mobility ay nandoon pa rin. Ang importante lang ay itong trabaho. We’re talking about opening the sectors na sarado pa rin (We recommended the MECQ with flexibility. We are just after bringing back jobs, but the strict mobility will still be there. What’s important is the jobs. We’re talking about opening the sectors that are still closed),” he said.

He added that the gradual reopening of the personal care and dine-in services was “partially discussed” with the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF).

“Iko-confirm na lang mamaya sa IATF kung ilang porsyento [The IATF will confirm later the percentage (of capacity)],” Lopez said.

An estimated 200,000 workers in personal care services and 1 million fast-food and restaurant crews were affected during the stricter community quarantine measures in National Capital Region, Bulacan, Cavite, Laguna, and Rizal and about PHP60 billion worth of wages were lost during the two-week MECQ, Lopez said.

The current MECQ also shed PHP120 billion in gross domestic product, on top of the PHP180-billion economic losses during the two-week ECQ.

While it is essential for people and organizations to follow health protocols and avoid COVID-19 infections, the same goes with the economy. So many have been suffering from the lack of jobs, the loss of income and, in the case of businesses, the loss of customers and clients. Being in the private sector myself, I definitely want more businesses of any size to reopen, make money, hire the unemployed and contribute to the development of local society. I want to see the personal care services to resume operations, as well as the return of indoor dining for restaurants and cafes. I also want to see more of my fellow Filipinos to stay above poverty and rise higher. That being said, I say that capitalism is the way to go and the real way to restore prosperity for the Philippines even as we face varied challenges daily during this COVID-19 (China Virus) crisis.

From this point on, I encourage you to keep observing the moves of not only the national authorities but also those in your local government, your barangay and other organizations serving you. Pray that the public servants and community leaders will look up to the Lord and acknowledge His authority over them. Pray for the leaders to look up to God. Finally, no matter how good or bad your situation is, keep having strong faith in our Lord. If you are hurting and you need healing, come to Lord Jesus (read Mark 5:25-34 in the Holy Bible).

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com