Liberalization a Boon to RP Professionals
The 21st century offers great opportunity for the export of Filipino professional services but the government must come in to map up ways of taking full advantage of the opening up of the export of services.
This summarizes the research study made by international trade law professor Ma. Lourdes A. Sereno titled "The Legal Implications of the Borderless Practice of Profession," she presented to leaders of the service sector and trade officials at the Board of Investments last week.
"The demand for international services has grown considerably over the past three decades due to increased international business transactions and the greater interdependence of the world economy. As a result, foreign professionals have sought to establish themselves in major cities throughout the world," the UP professor pointed out.
Among the members of the Association of Southeast Asian Nations (ASEAN), the Philippines has emerged number one in service exports in terms of its 25 percent share on total export receipts every year. Singapore is close second with 22 percent.
This has been attained, Ms. Sereno said, despite the absence of a coherent strategy to take full advantage of the country's edge of having world-class professional and technical people.
In the process of making her research study, the trade law expert discovered several problems that need attention if the Philippines were to stay at the forefront in the worldwide opening up of service exports.,
First is the need to come out with comprehensive data on the sector. …