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Strategic goods

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The Philippines was ranked the most improved country when it came to the implementation of trade regulations on strategic goods, moving up to 49th place in the 2021/2022 Peddling Peril Index (PPI) from 86th in the previous year.

PPI is issued by the Institute for Science and International Security, a non-profit, non-partisan organization primarily focused on stopping the spread of nuclear weapons and related technology to terrorists.

It rates 200 nations based on their strategic trade control adoption and implementation with the aim of helping countries have a stronger system by looking into implementation and enforcement, as well as progress made over time.

Strategic goods are items with civilian and military applications, with many used as materials or parts of weapons of mass destruction (WMD). Many countries have strategic trade control laws in place in compliance with their obligation under treaties and international agreements to prevent the proliferation of WMDs.

In ranking countries, the PPI looked at five super criteria: international commitment to preventing strategic commodity trafficking; legislation to regulate and oversee strategic commodity trade; ability to monitor and detect strategic trade; ability to prevent proliferation financing; and effectiveness of enforcement against strategic commodity trafficking.

The Philippines achieved more than 50 percent of the total possible points in four major criteria.

The Department of Trade and Industry said this can be attributed to the Strategic Trade Management Office issuance of guidelines to comply with the requirements of the Financial Action Task Force on the implementation of financing and brokering. In addition, the Anti-Money Laundering Council also issued targeted financial sanctions related to proliferation of WMD and proliferation financing last February.

Congress’ passage of one of the world’s most comprehensive strategic trade control legislation also helped the country ensure strategic goods trade is used for legitimate purposes only and not diverted to WMD proliferators.

The country’s strong improvement in the PPI ranking should boost the country’s image as a secure investment location for the manufacture and export of strategic goods. It’s not yet something we are known for but if it turns out we are good at it, we should quickly pounce on any opportunities that are presented.*

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March 2024
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