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6:49 pm on 18 November 2022, Friday
President Ferdinand "Bongbong" Marcos, Jr. has highlighted the challenges confronting the shipping and logistics services during the Asia-Pacific Economic Cooperation (APEC) Leaders Informal Dialogue in Bangkok.
On Friday, Marcos noted that shipping and logistics services are the "backbone of global trade and investment, and yet, we have not paid them ample attention."
He cited the case of the Philippines, where businesses absorb up to 30% of costs from logistics alone and have one of the region's highest rates.
"With logistics being a pivotal part of supply chains, this limits the integration of our products in global value chains and cuts our access to critical raw materials," Marcos said.
As a remedy, Marcos called on governments to eliminate all forms of discrimination, especially for products from micro, small and medium enterprises (MSMEs).
"We look to this forum as a platform to share best practices," Marcos said.
"By ensuring that our MSMEs participate in global supply chains, we will have diversified our supply sources, we will have enhanced sustainable and inclusive growth, and strengthened the competitiveness of our economies."
He also stressed the role of the maritime crew, the maritime industry, and the transport sector in ensuring robust and resilient global supply chains and post-pandemic recovery.