Economy

The Philippines believes it can address concerns raised by the Office of the US Trade Representative (USTR) after Washington launched a new investigation into the country’s alleged shortcomings in enforcing restrictions on goods produced with forced labor.

Economic ministers of the Association of Southeast Asian Nations on Friday called for urgent de-escalation of tensions in the Middle East, warning that prolonged conflict could ripple across global energy markets and threaten Southeast Asia’s fragile economic recovery.

The World Bank has approved an USD800-million financing package for the Philippines aimed at strengthening fiscal resilience, improving the business climate and equipping Filipino workers with skills needed for higher-quality jobs.

The Philippines is seeking to join the US-led Pax Silica Initiative while exploring a critical minerals partnership with Canada, as Manila steps up efforts to position itself in emerging supply chains tied to artificial intelligence, semiconductors and advanced manufacturing.

The Philippines on Friday urged fellow members of the Association of Southeast Asian Nations (ASEAN) to reinforce policy stability and cooperation across the region, warning that rising geopolitical tensions are increasingly shaping investment flows and economic confidence.