The United States is expected to seek further
investment access to Philippine infrastructure, public utilities as well market
access for its frozen meat under a planned free trade agreement (FTA) between
the two countries. Ceferino Rodolfo, undersecretary of the Department of Trade and Industry (DTI)
who is set to hold initial discussions with US officials on the FTA at
the end month, said the Philippines will in exchange seek market
access for garments and textile as well as agriculture.
Rodolfo said the Philippines will take advantage of the bilateral strategic
dialogue and the mini Trade and Investment Framework Agreement (TIFA) talks in
Washington next month to get the talks going on a possible FTA. This was
after US President Donald Trump welcomed President Duterte’s suggestion in a
bilateral meeting this week to elevate their current trade arrangement
into an FTA.A joint statement released by the White House Nov. 13, 2017, said the US “
welcomed the Philippines’ interest in a bilateral free trade agreement and both
sides agreed to discuss the matter further through the US-Philippines TIFA.”
“Our priority really to the US is garments and textile. Although 75 percent of
our products enter the US duty free, the remaining products are garments
and textile, wristwatches, carageenan and seaweed and agriculture
products,” Rodolfo said.He said the US, through this FTA would have a
framework for them to invest in the country and to take advantage of the
Philippines as hub. Rodolfo said a bilateral FTA is better than a regional or multilateral
agreement as this would be more focused and avoids the long and tedious process
of negotiating for the interest with multiple countries.The absence of the US
in the planned Trans Pacific Partnership had paved the way for Washington to
tap bilateral FTAs.
Rodolfo also sees no problem meeting concessions to be sought by the US
on infrastructure and utilities as the Philippines, unilaterally, has
initiated moves to amend for the purpose of liberalizing the Public Services
Act.He said the Philippines is ready to discuss with the US the preliminary
report of a study commissioned to the Philippine Institute for Development
Studies on the impact of an FTA.
Source: Daily herald,Chicago,USA Saturday, 18 November 2017