EU trade chief: RP could be 'India of Southeast Asia'

The Philippines could particularly benefit from a free trade agreement between the European Union and the Association of Southeast Asian Nationas in terms of liberalizing trade services, EU Trade Commissioner Peter Mandelson said Monday. "The Philippines' highly educated English-speaking workforce could make it a natural hub for electronic commerce and outsourcing. The Philippines can become the India of Southeast Asia," Mandelson said. He said the World Bank has estimated the potential gains from services liberalization to be $900 million from developing countries, more than four times the benefits from merchandise liberalization. Mandelson, however, could not provide details on the mechanisms for liberalization of trade in services as the EU has still not resolved to open that market, citing like the US, migration and security issues. -GMANews.TV