MANILA, Philippines — The US and the Philippines are in agreement that a bilateral free trade deal is a step in the right direction moving forward for both countries, the Department of Trade and Industry said.
Deputy United States Trade Representative (USTR) Jeffrey Gerrish and his delegation recently visited the country to further trade and investment ties with the Philippines.
The USTR meeting with the country’s trade officials also included continuation of the exploratory discussions for a possible free trade agreement (FTA) between the US and Philippines.
According to the DTI, the US and the Philippines agreed that an FTA would be a win for both countries.
The two countries also acknowledged that there are already opportunities under the current Trade and Investment Framework Agreement (TIFA) that can be utilized to facilitate more trade.
“We are looking forward to exploring a free trade agreement with the US. Meanwhile, we can simultaneously pursue low-hanging opportunities like the existing TIFA and the privileges under the Generalized System of Preferences (GSP) of the US,” Trade Secretary Ramon Lopez said.