BILATERAL MEETING. Finance Secretary Ralph Recto (center) meets with US Ambassador to the Philippines MaryKay Carlson (left) and US Department of State Under Secretary for Economic Growth, Energy, and Environment Jose W. Fernandez to discuss possible areas for closer cooperation, on Monday (Jan. 29, 2024). Recto urged the US to strengthen its trade partnership with the Philippines. (Photo courtesy of DOF)
MANILA – Finance Secretary Ralph Recto engaged in a bilateral meeting with United States Department of State Undersecretary for Economic Growth, Energy, and Environment Jose W. Fernandez to discuss areas for strategic partnerships.
In a statement late Monday, the Finance department said Fernandez highlighted specific areas of interest for the US, particularly critical minerals, semiconductors, and energy security.
Recto, on the other hand, expressed the country's willingness to collaborate on the said areas.
He also urged the US to strengthen its trade partnership with the Philippines to diversify supply chains and enhance economic resilience.
Recto assured the public that the Philippine government will address investor concerns, such as high electricity costs, through initiatives like the proposed amendments to the Corporate Recovery and Tax Incentives for Enterprises Act and other streamlined processes to ease the conduct of business in the country.
Joining Fernandez were US Ambassador to the Philippines MaryKay Carlson, US State Department Special Assistants Laura Russ and CJ Johnson, and key officials from the US Embassy in Manila. (PNA)
