The Organization for Economic Cooperation and Development (OECD) is providing technical assistance to Southeast Asia, including the Philippines, to help one of the most dynamic regional economies maintain its “impressive” economic momentum.
On the sidelines of the World Economic Forum (WEF) on East Asia last week, Trade Secretary Gregory L. Domingo explained that the OECD was looking at a mechanism through which they could assist the region, whether through technical advisory and consultancy. This will be implemented under the OECD’s Southeast Asia Regional Program, which was launched in Paris during the OECD Ministerial Council Meeting 2014.
“They are not looking at specific sectors to assist but rather it’s for the broader macroeconomy, such as assistance in strengthening policies and determining policy options for governments,” said Domingo, who attended the launch in France earlier this month.
According to the Department of Trade and Industry’s foreign trade office in France, the OECD crafted the work program for collaboration and sharing of best practices among the member-states of Asean in the context of the forthcoming regional economic integration.
Based on remarks made by Domingo during the launch, the “Philippines’ keen interest in collaborating with the OECD in the context of its Southeast Asia regional program was in the matters of human capital development, investments and regulatory reform and broadening the Philippines’ production base through the development of SMEs and unlocking the potentials of innovation-driven business sectors.” Amy R. Remo