The delegation from the US-ASEAN Business Council which aims at building US competitiveness in the region will be accompanied by Philippine Ambassador to Washington Albert del Rosario and Christopher Fedderson, the council’s manager for Philippine affairs.
Fedderson said the aim of the mission is to boost investor confidence in the Philippines, prepare for US Energy Secretary Spencer Abraham’s expected visit to the Philippines in October and restart stalled RP-US air transport talks.
He said the delegation will lobby the Philippine government to relax its 60-40, local-foreign ownership requirement and find alternatives to giving sovereign guarantees to attract energy investors at a time when the country needs to build new, large energy generation plants.
Foreign businesses are said to be hesitant to invest to the Philippines because of political and security problems exacerbated by July’s failed military coup.
Fedderson said the mission also hopes to jumpstart negotiations between the Philippines and the United States over their stalled 1982 air transport agreement.
Informed industry sources said exploratory talks are going on in Manila and Washington on several tracks to determine a common negotiating point before the "open skies" treaty goes into effect on Oct. 1. Restrictions on capacity, frequency and route of flights between both countries will be lifted on Oct. 1, unless new terms are agreed.
The Philippines wants a suspension of open skies for passengers saying it cannot compete effectively with US carriers.
The US delegation is scheduled to meet President Gloria Macapagal-Arroyo on Sept. 15, Transport and Communications Secretary Leandro Mendoza on Sept. 16 and Senate President Franklin Drillon and House Speaker Jose de Venecia on Sept. 17.