Philippines and New Zealand

Electronics and Electrical equipment

I. Philippines and New Zealand

MANILA, Philippines The Philippines wants to expand economic
cooperation with New Zealand in various areas, including infrastructure and
public-private partnership projects (PPPs), Malacaang said on Thursday
night, November 19.
President Benigno Aquino III conveyed this to New Zealand Prime Minister
John Key during their bilateral meeting. President Benigno S. Aquino III
expressed his desire to enhance the bonds of friendship and economic
cooperation between the Philippines and New Zealand, during his bilateral
meeting with Prime Minister John Key.
Communication Secretary Herminio Coloma, Jr. said that while the two
leaders noted the expanding bilateral trade between the Philippines and New
Zealand, President Aquino asked to further improve it by focusing on areas,
such as electronics, and public-private partnerships (PPP).
The two leaders noted that bilateral trade between the Philippines and New
Zealand increased by 6.4 percent to $553 million in 2014 while investments
from New Zealand approved by Philippine investment promotion agencies
increased significantly by 71 percent in the same year, Secretary Coloma
said following the bilateral meeting between the two heads of state.
President Aquino said the Philippines wishes to expand economic
cooperation in the areas of electronics and electrical equipment, automotive
parts, IT-BPM and engineering services, and infrastructure and PPP projects.

Aquino also told Key that the Philippines is launching "intensive stakeholder
consultations to address potential challenges and prepare specific sectors to
optimize opportunities presented by the eventual flourishing" of the TransPacific Partnership."
"He expressed the hope that New Zealand will support the Philippines
possible accession to the Agreement," Coloma said.
Coloma said the President thanked Key for New Zealands support to the
Philippines disaster risk reduction and management efforts through its
assistance to a capacity building program for cities and municipalities and
contributions to the Philippine Red Cross. "The two leaders expressed their
shared hopes that a universal and binding climate change agreement will be
reached during the COP21 meeting in Paris," he said. The President also
reaffirmed the Philippines commitment to its defense cooperation
agreement with New Zealand, which the two countries signed during
Aquinos state visit to New Zealand in 2012.
The agreement aimed to convene senior officials and military
representatives, conduct education and training exercises, capacity building,
and information exchange. The Philippine leader also sought the support of
Key for the possible entry of the Philippines in the Trans-Pacific Partnership, a
free trade agreement between 12 Pacific Rim countries. Aquino had earlier
asked for the support of other TPP members such as the US, Canada, and
Vietnam.
He also took the opportunity to thank Key for the scholarship grants given to
Filipinos in the field of geothermal energy, noting that these scholars are now
contributing to the Department of Energy. Aquino further thanked the Kiwi
leader for his nations assistance in the local dairy industry and the disaster
risk reduction and management efforts.

II. Principles of Economics

Markets are usually a good way to organize economic activity.
Firms must decide what company would produce a high quality, safe and not
expensive electrical equipments.

The cost of something is what you give up to get it

Buying an electrical equipment with a higher cost, not just a price but the
high quality and safety of an item.
Rational people think at the margin
People buying electrical equipment with a higher cost because he/she thinks
that higher price equal a high quality.
III. Agree or Disagree
I agree to President Benigno Aquino that he wants to expand cooperation in
the areas of electronics and electrical equipment. Because electrical
equipment are many uses in terms of business and personal life. Society
relies on electrical technology to improve business efficiency, maintain
wellbeing and improve social interaction. The use of electricity as an energy
source brings with it risks that need to be understood and managed.
Responsibilities:
Government must know that the importers of electrical equipment must
ensure that their appliances meet all the safety obligations and safety
requirements. Check that the electrical equipment is in good condition.
Government must perform risks assessment to identify hazards, the risks
arising from those hazards and the control measures you should use.

As a consumer, you must check that electrical equipment you are intending
to use is suitable for the electrical supply to which you are connecting it.
Check the voltage is correct. Check that the outer cover of the equipment is
not damaged in a way that will give arise to electrical. Check that the
electrical cable is not damaged and has not been repaired with insulating
tape or a suitable connector.
As a student, you should be sure that the electrical equipment is safe to use.
Using suitable equipment is a good way of reducing risks. Check that the
plug is not damaged and that the cable is properly secured with no internal
wires visible.

A Case Study
Of an APEC
Agreement
(Philippines and New Zealand)

Michelle Eusebio
II-7
Mrs.Pabayos