MANILA, Philippines—Overseas Filipino workers in Taiwan could lose their jobs and Taiwanese tourists could skip the Philippines in the event Taiwan and China push ahead with signing an economic pact in June.
This was among the adverse impact of the possible firming up of the Economic Cooperation Framework Agreement (Ecfa) between China and Taiwan, according to National Economic Development Authority (Neda) director Dennis Arroyo, who said they raised this concern to President Macapagal-Arroyo at Tuesday’s Neda meeting.
Speaking to reporters, Arroyo said her administration considered the Ecfa a “threat” because this would attract Taiwanese investments and tourists away from the Philippines and into China.
The most “immediate” impact should the pact be signed as scheduled in June was this would cause a slump in tourist arrivals here from Taiwan, he said. - Philippine Daily Inquirer, Posted date: April 21, 2010
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