The Asian Development Bank (ADB) said the Philippines could find significant gains from the current big shift in global trade. While the pandemic disrupted the global economy and trade, Asia must embrace trade liberalization and facilitation efforts so it can reap benefits from economies shifting their supply chain networks. The Philippines’ services sector will likely benefit from the new round of globalization where digital transformation plays a fundamental role. Filipino workers can both take on service-related jobs abroad and local business process outsourcing (BPO sector) remains solid.
