FTA with US more likely under Trump regime: Philippines
Fibre2Fashion - 29 January 2025
FTA with US more likely under Trump regime: Philippines
The Philippine department of trade and industry (DTI) is confident of starting negotiations for a free trade agreement (FTA) with the United States under the Trump regime, DTI undersecretary Ceferino Rodolfo recently said.
At the launch of a book titled ‘Doing Business in the Philippines’ released by the European Chamber of Commerce of the Philippines (ECCP), DivinaLaw, and the Philippine Board of Investments, DTI undersecretary Ceferino Rodolfo, who is also vice chairman and managing head of the Board of Investments, said some of Trump’s appointees had earlier expressed support for closer economic ties with the Philippines, domestic media outlets reported.
“For President Biden, for his administration, it was so difficult to even have a watered-down statement that would say that the US notes the Philippines’ interest in a bilateral free trade agreement. Take that in contrast with the statement from President Trump in 2017,” Rodolfo told European businesses.
The Joe Biden administration was quite cautious in responding to the Philippines’ FTA proposal, he said. “That will also push all of us to hurry up a bit in terms of what we already started in terms of the Philippines-EU FTA,” he noted.
The Philippines-European Union FTA talks will begin the second round of negotiations next month.
Meanwhile, ECCP urged the country not to lose steam in implementing policy and regulatory reforms, helping unlock the Philippines’ full potential.
