00:00Despite the changes in the current administration of the Department of Finance, the Philippine economy remains stable.
00:08This is also thanks to the reforms implemented by the administration of President Jorgen R. Marcos Jr., such as the Create More Law.
00:17According to Finance Secretary Ralph Recto, with the help of the current law,
00:22more investors will be encouraged to relocate here, especially since the United States has a lower rate in the Philippines compared to other countries.
00:33It is also possible to use the change in global trade as an opportunity for us to become a hub when it comes to the industries of electronics, textiles, food, and automobiles.
00:46It is also possible for the Philippines to look at and expand our free trade agreement with other economies, such as the UAE, EU, Chile, and Canada.
00:57In addition, the PSA said that it is too early to say that the increase in the United States' total exports will have an effect on the country's inflation.
01:06Only 15 to 16 percent of our total exports will be brought to the United States.
01:14Our exports to the United States, as I mentioned earlier in our trade statistics, will be between 15 to 16 percent of our total exports.
01:28For example, in 2024, our exports to the United States in terms of U.S. dollars will be 12.14 billion U.S. dollars.
01:39Our total exports of goods, we're just talking of goods, is around 73.3 billion U.S. dollars.
01:46So our exports are around 16.5, around 17 percent of our total.
