Trade: A Symbiotic Exchange

Trade is an exchange which people do voluntarily to satisfy their wants using the resources of

one another—goods and services. Through this, a symbiotic relation is established such that

all parties involved stand to benefit by having their needs met. In business terms, it implies

transfer and purchase of properties as well as assets with mutual agreement.

Historical Evolution and Monetary Systems

Trade, originating from barter system has been developed in order to solve the problem of

unequal distribution of wealth. Money became a universal medium of exchange making trade

easier. With time monetary systems have evolved right from precious metal trade to coins

being standardized, cash and now digital currencies like cryptocurrency.

Benefits and Impact

Trade results in instant economic growth as its immediate benefits are significant. It promotes

cultural interaction and opens up avenues for development making progress possible. Besides,

it crumps countries down into regions that are globally recognized thereby revealing both

their strengths and weaknesses; this can result in thriving civilizations leading towards more

progress.

Trade also strengthens a country’s economy by increasing employment opportunities as well

as tax revenues hence contributing towards improved economic performance.

Trade Agreements and Partnerships in the Philippines

The Philippines demonstrates the strategic importance of these partnerships through its

membership in several trade agreements:

The ASEAN Trade in Goods Agreement (ATIGA) which aims to have one market and

production base thus promoting free flow of goods within ASEAN and enhancing economic

integration.

The Philippines – Japan Economic Partnership Agreement (PJEPA) that covers

trade on goods, services, investments, intellectual property rights among other things in order

to bolster stronger economic relations between the two countries.

The Philippine-European Free Trade Association Free Trade Agreement that

strengthens ties with EFTA members— Iceland, Liechtenstein, Norway, and Switzerland—in

many areas such as goods, services, investment and intellectual property.

The Regional Comprehensive Economic Partnership (RCEP) contains

provisions covering trade; investment; intellectual property and others within 14 Asia Pacific

nations, thus fostering greater regional integration and cooperation among economies.

These agreements show how much the Philippines is dedicated in promoting economic

growth by entering into strategic trading partnerships.