During the 2nd EU-Philippines Business Dialogue at the Makati Shangri-La hotel, leaders of the groups handed to the government the 95-page EU-Philippines Business Network Advocacy Papers with 116 policy recommendations grouped under 22 categories.

In his speech, ECCP President Michael K. Raeuber said the government must “prioritize” enactment of a fair competition law, customs modernization and tariff act, a bill that will allow foreign vessels to serve local cargo routes, and removal of professions from Foreign Investment Negative List (FINL) restrictions. Of the four, the list emphasizes the need to enact “an effective fair competition law before the conclusion of the Aquino Administration.”

As if on cue, the House of Representatives yesterday approved on second reading its version of the proposed Philippine Competition Act that seeks to provide a “level playing field” against monopolies and unfair trade practices like price rigging.

Last week, the House approved on second reading the bill allowing foreign ships to call at any local port to transport goods for import or export -- a move designed to introduce limited foreign competition for local shipping firms in a bid to cut high freight costs.

Both bills have already hurdled the Senate on third and final reading.

Yesterday, the House also cleared for eventual third reading approval still another measure that seeks to facilitate right-of-way acquisition for government infrastructure projects. This reform, which forms part of the European chambers’ bigger wish list, is still being discussed at committee level in the Senate.

All three form part of Malacañang’s list of priority measures.

The bills may be approved on third and final reading next week, according to Davao del Norte Rep. Anthony G. Del Rosario (1st district), vice-chairman of the House Committee on Trade and Industry, in separate interviews since last week.

“European business can and is willing to join hands with Philippine partner organizations and local companies, including SMEs (small and medium enterprises)...,” Mr. Raeuber said in his speech.

“However, if European businesses are to increase investment and strengthen trade with the Philippines...the Philippines needs to become a competitive for foreign business.”

And while the country has leapt 13 notches to 95th place out of 189 economies in the World Bank’s Ease of Doing Business Report 2015, Mr. Raeuber said: “[I]t is not enough, especially when we consider regional competitiveness...”

Trade and Industry Secretary Gregory L. Domingo told reporters on the sidelines of the event that his department will still have to discern which measures on the list are “doable” before the current administration steps down.

ECCP’s list bore similarities with the one being drawn up by the Joint Foreign Chambers of the Philippines, of which it forms part, for President Benigno S.C. Aquino III before his final State of the Nation Address in July: easing FINL restrictions, establishment of a Department of Information and Communication Technology, freedom of information law, fair competition act, customs modernization and tariff act, adoption of a comprehensive energy road map, formation of an energy council that will craft the road map, and a comprehensive income tax reform. -- Daphne J. Magturo

Source: Business World Online