03 June 2014

BSP conducts Conference on Gearing Up for External Competitiveness in Subic

Bangko Sentral ng Pilipinas (BSP) recently held a Conference on Gearing Up for External Competitiveness in Subic Bay in a bid to prepare the business sector inside and within the peripheries of the Freeport for the Association of Southeast Asian Nations (ASEAN) economic integration come 2015.

Among the topics discussed include key global economic developments and their impact to global growth and Philippine exports; trends, issues and policies concerning foreign exchange rate; strategies for managing foreign exchange risks; BSP regulations on hedging and measures to improve the competitiveness of Filipino exporters; and strengths of selected countries in achieving external competitiveness.

“The upcoming ASEAN Economic Community in 2015 highlights further the need to take serious measures in implementing reforms. The ASEAN markets could provide domestic firms with market opportunities for greater trade and investment,” BSP Deputy Director Tomas CariƱo Jr. said.

Carino added that the discussions would help build a stronger macroeconomic and institutional environment, which is crucial in elevating competitiveness in a larger playing field. (CLJD/MJLS-PIA 3)