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
Rodolfo said likely to be discussed are the timeline as well as the scoping. The entire process from scoping and negotiation to conclusion could take two to four years
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
Rodolfo said likely to be discussed are the timeline as well as the scoping. The entire process from scoping and negotiation to conclusion could take two to four years
