Independent Economy

TAÑADA VS ANGARA

Facts:
Driven by the post war predicaments, the concept of World Trade Organization
which organized a revolutionised economic and business relations. It led to the
establishment of three multilateral institutions, The World Bank, International
Monetary Fund and International Trade Organization. After years of toiling the
landscape of the global market, emerged the WTO where like any other countries,
Philippines through the Presidency of Fidel Ramos joined. However, controversies
arise when Philippine President certified the necessity of the immediate adoption of
P.S. 1083, a resolution entitled "Concurring in the Ratification of the Agreement
Establishing the World Trade Organization induce the petition to declare it as
repugnant to the Constitution for interrupting the Sovereign Power of the state for
Independent Economy
The petitioner contends that the provision of the WTO will be a treat in the
Filipino Products as these foreign products will be placed on the same foot of the
Filipinos thus disturbing the concept of Filipino First Policy and at the same time it
impairs self-reliant and independent national economy

Issue:
Whether or not the WTO is impairing the Sovereign power of the Philippines
for self-reliant and independent national economy.

Ruling:
The Supreme Court ruled otherwise. The introduction of foreign products does
not constitute an impairment on the Filipinos in so far as the Constitutional right of
Filipino First Policy is concerned, though the Constitution indeed mandates a bias in
favor of Filipino goods, services, labor and enterprises, at the same time, it recognizes
the need for business exchange with the rest of the world on the bases of equality and
reciprocity and limits protection of Filipino enterprises only against foreign
competition and trade practices that are unfair. 32 In other words, the Constitution did
not intend to pursue an isolationist policy. It did not shut out foreign investments,
goods and services in the development of the Philippine economy.