MANILA, Philippines -- Ranking officials of the US Department of Agriculture (USDA) will lead an agribusiness Trade and Investment Mission (TIM) to the Philippines next month, US Agricultural Counselor Emiko Purdy said at the 18th Hog Congress in Pasay City.

Purdy said in a speech that the US mission seeks opportunities in the fishery, biofuel, processed food, beverage, livestock genetics, meat and poultry, dairy, agricultural equipment and fertilizer sectors.

“This TIM is the first of its kind for the USDA in Asia,” Purdy said in an interview.

She added that US agriculture officials would meet with their Philippine counterparts on May 11 to 14, and a number of private business leaders are expected to join the mission.

The visit will provide them the opportunity to explore potential partnerships and joint ventures with Philippine companies. About 70 Philippine firms are set to participate in meetings with the TIM.

The mission is also expected to promote two-way cooperation, trade and investment between United States and Philippine companies, she added.

“This is an excellent opportunity for both sides,” Purdy said.

The USDA estimated that two-way trade of agricultural products between the Philippines and the United States reached almost $3 billion in 2008—an increase of 44 percent from the $2 billion posted the previous year.

The United States is the top market for the Philippines’ agricultural products, which include coconut oil, tropical fruits and vegetables, and sugar.

At the same time, the United States is also a key supplier of food and beverage to the Philippines.

The Philippines’ Agriculture Department could not comment on the size of the potential investment that would result from talks with the US mission.