News Report 13 February 2020 Local
1. US: Wrong move to end VFA amid China buildup
Philippine Daily Inquirer, 13 February 2020, p. A1, continued on p. A4
US Defense Secretary Mark Esper has called President Rodrigo Duterte’s decision to terminate the Visiting Forces Agreement (VFA) between the Philippines and the United States wrong and ill-timed as the two countries and their allies try to make China follow proper conduct in the South China Sea.
2. PH can survive without VFA
Manila Bulletin, 13 February 2020, p. 1, continued on p. 7
The Philippines can survive and manage without the Visiting Forces Agreement (VFA) with the United States, according to the Department of Justice (DOJ), citing the termination of the PH-US military bases agreement.
General Felimon Santos Jr., Armed Forces of the Philippines (AFP) Chief of Staff meanwhile said that the void that the US military will leave shall be filled with the strengthened cooperation with other allied countries, including China. He also said that the Philippine military will increase its engagements with Japan, South Korea, Indonesia, and Australia.
Korea - Economic
3. Road to ‘A’ rating for PH on track - Diokno Manila Bulletin, 13 February 2020, p. B3
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno reiterated his confidence yesterday that the country will acquire its first “A” credit rating within two years, if not sooner. Fitch Ratings recently raised its outlook to “positive” from “stable” for the Philippines.
He then reiterated the call to Congress hasten the approval of the Corporate Income Tax and Incentives Rationalization Act and Passive Income and Financial Intermediary Tax; amendments to the Anti-Money Laundering Act of 2001 and the Human Security Act of 2007; amendments to the Agri-Agra laws; and reforms in financial consumer protection and deposit secrecy.
4. Philippine improves in International Intellectual Property Index Business World, 13 February 2020, p. S1/1
The Philippines’ score improved by nearly four percentage points in the US Chamber of Commerce’s (USCC) 2020 International Intellectual Property Index, after its implementation of additional anti- counterfeiting and piracy measures and the addition of new indicators in the index.
The Philippines index score stood at 39.94%, garnering 19.97 points out of 50 indicators. In comparison, the Philippines score reached 36% or 16.2 points out of 45 indicators in last year’s index.
5. Envoy: Tariff preferences for PH to continue after Brexit Manila Bulletin, 13 February 2020, p. B1
Britain has assured the Philippines of continued trade preferences based on the EU Generalized System of Preferences (GSP) Plus even after its exit from European Union. The EU-GSP Plus grants zero to preferential tariff to over 6,000 tariff lines or products exported to the 27 EU members states.
