THE PHILIPPINES and the United States agreed last week on an “expanded engagement” in the coming months to thresh out key bilateral issues and move forward in the Trans-Pacific Partnership (TPP) discussions.
US Trade Representative Office director Christine Brown and Philippine officials led by Trade Undersecretary Ceferino S. Rodolfo met last week in Washington to discuss investments, customs, intellectual property rights and agricultural trade issues under the Trade and Investment Framework Agreement (TIFA).
The discussions also centered around the Philippines’ interest in joining the TPP. The US officials briefed their Philippine counterparts on key TPP chapters of interest and reviewed plans for further technical consultations on TPP outcomes.
The TPP is considered a landmark agreement that eliminates or reduces tariffs and lowers the cost of trade among its members, including the US. It is expected to generate an additional $225 billion to the world economy by 2025.
The TPP is the country’s only chance to have a bilateral agreement with the US but it is hampered by its constitutional limitations. Amy R. Remo