Social Security Agreement Between Australia And Philippines

Two-lane merchandise trade increased by 66% between 2010 and 2014 to AUD 2.9 billion. Australia`s top exports to the Philippines include metal ores and concentrates, copper ore and concentrates, wheat and beef. The Philippines exports to Australia heating and cooling appliances, mechanical material handling equipment, pumps and spare parts and electrical machinery It is widely recognised that the economic relationship between Australia and the Philippines has considerable potential. The Philippine and Australian Ministers of Foreign Affairs and Trade are meeting under the auspices of the Philippines-Australia Ministerial Meeting (PAMM). The PAMM sets the direction and vision for bilateral relations and serves as a forum to discuss initiatives and activities to strengthen the partnership. AANZFTA is ASEAN`s most comprehensive free trade agreement and governments have worked to ensure that the agreement receives other benefits. AANZFTA also forms the basis of the Regional Economic Partnership (RCEP), negotiations of which are expected to be concluded by the end of 2016. During discussions in December 2015, senior officials identified specific activities that could boost trade and investment between Australia and the Philippines. This agenda will be developed and implemented during 2016. Australia currently has 31 bilateral international social security agreements. Australia and the Philippines share an ambitious agenda of free trade agreements that goes beyond RCEP. For example, the Philippines hopes to join the Trans-Pacific Partnership (after the implementation of this agreement and the completion of the conditions of accession), to which Australia has joined as a founding member and could support the Philippines` accession process.

Australia plans to support quality national infrastructure as well as trade research and negotiation capacity building. We also plan to support the Philippine Public-Private Partnership Centre in 2016, in addition to other infrastructure projects. Trade in services between Australia and the Philippines amounted to AUD 1.3 billion in 2014, up 64% from 2010. In 2014, Australia`s top services exports to the Philippines were business and personal travel. A strong focus on foreign and trade policy for Australia reinforces its already important engagement with countries in the dynamic Asia-Pacific region. A founding member of APEC and an active participant in the East Asia Summit (EAS), Australia also contributes to the building of regional institutions that promote stability, security and prosperity throughout the region. Australia and the Philippines have a long history of bilateral cooperation….

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