MANILA -- A delegation of the United States Trade Representative (USTR) met with Philippine economic managers to discuss the status of bilateral trade, among other economic issues, between the longtime allies when they visited the country this week.
The USTR delegation, led by its representative for Asia Jeffrey Gerrish, met with Finance Secretary Carlos Dominguez III, Trade Secretary Ramon Lopez, and Agriculture Secretary Emmanuel Piñol on Wednesday.
Lopez said that during his meeting with Gerrish, both sides have reconfirmed their interest in exploratory discussions for a possible bilateral free trade agreement (FTA).
Aside from exploratory talks on a potential FTA, the trade officials also discussed how the two countries could further strengthen their trade and investment ties.
“We are looking forward to exploring a free trade agreement with the US. Meanwhile, we can simultaneously pursue low-hanging opportunities like the existing TIFA (Trade and Investment Framework Agreement) and the privileges under the Generalized System of Preferences (GSP) of the US,” said Lopez.
“President Trump has made clear his commitment to the Indo-Pacific region, and the United States values our very important trade relationship with the Philippines,” said Gerrish.
“Greater engagement on trade and investment will benefit both countries, and we look forward to resolving outstanding issues and exploring the best arrangement for strengthening and expanding our trade relations,” he added.
Last year, bilateral trade between the US and the Philippines stood at USD20.1 billion. (PNA)
