This was relayed anew to the US by Senior Trade Undersecretary Thomas Aquino during the recent videoconference of the RP-US Trade and Investment Council (TIC) conducted between Manila and Washington, D
During the TIC, Aquino acknowledged the granting of the Philippines request for a waiver for the country’s coco fatty acids exports from the competitive need provisions of the US GSP.
He also sought positive action to Philippine GSP petitions submitted this year for the 2005 GSP annual review.
These include Competitive Need Limit (CNL) waiver for dried mangoes and inclusion of carrageenan and certain watches, which if granted, would allow the said Philippine exports to enjoy duty free access to the US market.
Philippine exports of these products to the US amount to some $124 million.
A key element in the Philippines and United States bilateral engagement, the TIC has been instrumental in developing a more dynamic and stronger economic relationship and helped resolve several outstanding trade and investment issues between the two countries.
Aquino headed the Philippine panel while Assistant US Trade Representative Barbara Weisel led the US panel.
Aquino manifested gains achieved in the continuing bilateral discussions including opportunities to take up matters on trade and investment, agriculture, intellectual property rights and telecommunications, among others.
The US was informed of the recent lifting by the Department of Agriculture of precautionary measures imposed on the importation of live cattle, beef and their products from the US, which would allow the latter to resume exporting beef to the country.
There were a number of bilateral concerns and interests that figured prominently in the discussions.
While noting significant developments in the area of intellectual property rights (IPR) enforcement, the United States wants to see more improvements to get the Philippines out of the Special 301 Watchlist.
The US also urged the government to continue to pursue investor friendly policies taking note of current policy initiatives on tariffs and other fiscal and investment related measures.
The two panels also discussed telecommunications which has immense business potential especially in the area of third generation (3G) wireless technology.
The Philippine panel during the TIC enlisted US support to ensure the successful operation of the first substantial investment of a Philippine company in the US telecommunications industry in the Commonwealth of the Northern Marianas Island.
"The US was also receptive to the country’s desire for capacity in the country’s SME food exporters", Aquino said.
The US said it would work with the Philippines on energy conservation initiatives in the automotive sector being spearheaded by the Board of Investments.
The Philippines also expressed that it is looking forward to the US’ funding support for certain key projects identified as part of the government’s anti-corruption program.