Philippine Ambassador to the US Jose Manuel Romualdez. (File photo)
MANILA – The Philippines is considering forging a bilateral free trade agreement (FTA) with the United States (US) on cyberspace and digital technology, Philippine Ambassador to the US Jose Manuel Romualdez said Thursday.
In a media interview in Washington DC, Romualdez said the Philippines’ plan to have an FTA with the US on the two areas is part of the two nations’ renewed interest to further enhance trade and economic cooperation.
“Well, on specific areas... probably in the cyberspace, for instance, or in the digital technology, and of course, there are many other areas that I think we can work with the United States on having this,” he said when asked on a possible FTA with the US.
“As I said, the United States is committed itself into really helping – well, I wouldn’t want to put it helping, but looking at the Philippines as really a major investment hub for many American companies.”
Romualdez said he thinks the US is more inclined to go into specific sectors for the possible FTA.
He said the Indo-Pacific Economic Framework for Prosperity (IPEF) meeting to be held in Manila next month would give a “clearer picture” of the direction of the economic setup of the two countries.
“But the Indo-Pacific Economic Framework, which the United States has initiated, of which we are one of the founding members of that economic framework, is looking at including the entire ASEAN (Association of Southeast Asian Nations) region,” he said.
Romualdez said the Philippine government would follow up the previous meeting with US Commerce Secretary Gina Raimondo, particularly on potential investors coming into the Philippines.
He added that the Philippines is also eyeing similar trade ties with Japan.
The Philippines is expecting about USD100 billion in investments in the next five to 10 years as a result of President Ferdinand R. Marcos Jr.’s historic trilateral meeting with US President Joe Biden and Japanese Prime Minister Fumio Kishida in Washington DC.
Marcos is also expected to meet with business leaders in the US on the sidelines of his trilateral summit with Biden and Kishida to entice more foreign investments. (PNA)
