The Trade Related Technical Assistance Project 3 (TRTA 3), which is the new phase of the EU-PH partnership for the promotion of trade, was formally launched on 28 June 2013 at Hotel Intercontinental Manila in a gathering of the officials of Philippine government agencies, the European Union (EU) Delegation to the Philippines, other development partners and related private organizations.
With an EU financial support of PhP 456 million added to the previous PhP 570 million and in-kind contribution coming from the Philippine Government, the TRTA 3 sets to provide capacity building and technical assistance for selected government agencies and private sector organizations to enable them to facilitate the country's integration into the international and regional trading and investment system. Through this project, EU aims to further support the Philippine Government's programs for economic development, inclusive growth and poverty reduction.
As the implementing agency for the TRTA 3 Component on Competition Policy Development, the Department of Justice - Office for Competition (DOJ-OFC) will undergo capacity development that will strengthen its institutional resources and contribute to its effective implementation of a competition policy. At present, the Philippines adopts a sectoral approach with over 60 sector regulators. There are over 30 competition laws dealing with monopolies, combinations in restraint of trade, restrictive business practices, price control measures and consumer protection.
Given the prevailing globalization and international economic integration, establishing healthy competition and efficient markets has to be duly prioritized and TRTA 3 will significantly contribute to the realization of this goal.
In the course of the TRTA 3, studies on competition in selected sectors will be undertaken. Training and mentoring on competition policy, relevant legal and economic tools of analysis and inter-agency coordination for competition procedures will likewise be conducted by experts. Furthermore, technical advice on drafting legislation on competition policy will be rendered. TRTA 3 will help increase the public's awareness of the culture of competition, both in the local and international markets, and the best practices adopted by other countries to exploit it as a key to economic expansion and growth.
"We thank the EU for its support to the capacity building efforts of the OFC. Armed with the knowledge of international best practices, we shall effectively pursue economic justice for all," said DOJ Assistant Secretary Geronimo L. Sy, Head of OFC.