MANILA, Philippines — The United States remains interested in strengthening trade ties with the Philippines even as there are no indications yet when the two countries can resume discussions for a free trade agreement (FTA) between Manila and Washington, US Ambassador MaryKay Carlson said.
Carlson said she expects to see continued interest among American businessmen to do business in the Philippines.
“I don’t have any insights yet (on the FTA)...We’ll wait to see once the (Trump) administration is up and running but I expect there to be continued interest in growing our economic relationship, whether it’s trade or investment going both ways,” Carlson said during a recent visit to The STAR.
She also said the Philippines is in a good position to continue its trade relations with the US.
“So when I look at US-Philippines trade, I see a good story...I know there’s bipartisan support to continue expanding our economic ties,” she said.
Filipino businesses can thus remain optimistic about trading with their American counterparts, Carlson said, especially because the US is already one of the country’s biggest customers.
Filipino and American businessmen have been pushing for an FTA between the two countries to further boost trade ties.
Before the US elections in November last year, Trade Undersecretary Ceferino Rodolfo said the Philippines continues to aggressively push for a bilateral FTA with the US.
Manila aims to be the first in line when the US is ready to return to the negotiating table to discuss traditional FTAs again, he said.
Now that the elections are over, the Philippines will try to push for the resumption of talks again. The US does not historically push for FTAs during an election year.
Nonetheless, there is strong support for the FTA from American businessmen including members of the US Chamber of Commerce, the world’s largest business organization, Rodolfo also said.
Philippine products that are exported to the US such as garments, electronics and agriculture will significantly benefit from having an FTA with the US.
The Biden administration had been more focused on the Indo-Pacific Economic Framework (IPEF) instead of the traditional FTAs.
It is not yet clear if the incoming Trump administration will prefer FTAs instead of the IPEF.
The IPEF, launched in 2022, provides a framework for trade in the Indo-Pacific region, which is a key source of raw materials for US manufacturers as well as a key export market for American-made products.
While waiting for the FTA, the Philippines is also pushing for the renewal of the US Generalized System of Preferences, the largest and oldest US trade preference program.