Arroyo eyes free trade pact with US by July 2007
11/20/2006
Arroyo eyes free trade pact with US by July 2007
By Philip Tubeza
Inquirer
SINGAPORE (via PLDT) — President Gloria Macapagal-Arroyo said she wanted the Philippines to forge a Free Trade Agreement (FTA) with the United States by July next year.
Speaking to reporters while en route to Singapore Sunday, the President said she had asked business leaders led by shipping magnate Doris Magsaysay Ho to draft a proposed FTA after President George W. Bush had agreed to it.
"In the past, both the US trade officials and the other officials and the US business community were not very keen on a trade agreement with the Philippines. But when I took it up with President Bush this time, he said ‘yes’ immediately,’’ Arroyo said.
"I said we have to do it right away. In fact, I said instead of having exploratory talks and going through that whole range, we will write a draft and give it to them for them to consider or amend. We will present them a package. We should forge an agreement while the iron is hot,’’ she said.
Arroyo said she wanted the help of the business community in drafting the FTA because Filipino businessmen initially lobbied for it.
“That’s for the business community now to prepare because it’s the business community of the Philippines that have been urging me to go into a free trade agreement,’’ the President said.
Arroyo said that she was hoping an FTA would be ready by July because President Bush’s Trade Promotion Authority would expire by then and he would have to ask the US Congress to renew it. The US House of Representatives and Senate are already under the leadership of Democrats.
“His authority is until June or July. That’s the reason why I want to be unconventional. I don’t want to start with exploratory talks because it would take years,’’ she said.
"Hopefully (it would be signed) within my term. Now, I’m challenging the business sector. I told Doris Ho... ‘I got President Bush to say yes to the FTA so you write the draft so that we don’t have to go through the years and years of negotiations,’’ she said.
Arroyo said that her talk with Bush was "very substantive’’ and that the American President might have agreed immediately to the idea of a trade pact because it would boost the "strategic alliance’’ between the two countries.
"The Philippines and the US both share a common agenda of free trade... and the Philippines and the US in our strategic partnership share the ideals of modern democracy,’’ she said.
"We fight for peace, freedom and freedom from want. We have a comprehensive political and economic alliance so it’s just logical (since the Philippines also has) other bilateral and multilateral trade arrangements in East Asia,’’ she said.
