PH eyed as investment hub for Americans

“The two leaders pledged to nurture economic ties, including private sector cooperation, to create jobs and opportunities for people in both countries,” the statement read. (Shutterstock photo)

MANILA— The Philippines and the United States have committed to strengthen dialogues for innovation and sharing of best practices in technology to optimize the country’s position “as a preferred destination for American investments in the Asia-Pacific region”.

“The two sides decided to further deepen the extensive US-Philippine economic relationship,” said a joint statement released by the Department of Foreign Affairs.

During President Rodrigo Duterte and President Donald Trump’s bilateral meeting, ways to expand on their mutual commitment to free, fair and balanced trade that increases economic opportunity for all were discussed.

“The two leaders pledged to nurture economic ties, including private sector cooperation, to create jobs and opportunities for people in both countries,” the statement read.

The two states also recognized the importance of regular discussions under the US-Philippines Trade and Investment Framework Agreement (TIFA) to strengthen trade relationship by continuing to make progress in market access related to agricultural products, intellectual property, customs and labor, among others.

On the part of Washington, the Philippines’ interest in a bilateral free trade agreement (FTA) was “welcomed” and both sides agreed to discuss the matter further through the US–Philippines TIFA.