The Philippines remains open to formalizing trade relations with the United States, according to Trade Secretary Alfredo E. Pascual. Know more:
THE Philippines remains open to formalizing trade relations with the United States, according to Trade Secretary Alfredo E. Pascual.
Reports quoted Tai as saying that in terms of a more “traditional” FTA, the US is not currently negotiating any such agreements with trading partners in particular, because “we do not see that traditional program being appropriate for the types of challenges and opportunities that we are facing right now.”
In fact, Pascual said, “we had a discussion on this and we understand where she is coming from.” But, Pascual emphasized that “it cannot prevent us from further pushing.” While IPEF is not a trade agreement which covers market access, “it provides a way of addressing certain process constraints,” he explained.
These countries n the Indo-Pacific region recognized that the Covid-19 pandemic underscored the importance of working closely together to ensure that economic recovery and advancement are grounded in resilience, sustainability and inclusivity.
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