Goldberg welcomes Phl bid to join trade pact

MANILA, Philippines - The US government supports the Philippines’ interest to join the Trans Pacific Partnership (TPP) Agreement but notes that the country membership would entail making commitments to meet the deal’s high standards including liberalizing the economy.

Speaking at the joint membership meeting of the Management Association of the Philippines and Makati Business Club yesterday, US Ambassador to the Philippines Philip Goldberg said the American government welcomes the Philippines’ expression of interest to join the TPP.

“The US wants the Philippines to be part of TPP, but membership involves taking on obligations to implement market liberalizing measures. It will take a resolute commitment by the Philippine government and the business community to meet the agreement’s standards,” he said.

The TPP, which is currently being negotiated by the US with 11 other Pacific countries such as Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, aims to establish a free trade bloc which would represent more than half of global output and over 40 percent of world trade.

It sets standards for intellectual property, labor rights and environmental protection.

Trade Undersecretary Adrian Cristobal Jr. said late last month he would lead the technical working group which would start talks with the US government by the end of the first quarter on the country’s plan to join the TPP.