Manila Bulletin
US Export Council bats for bilateral FTA with PH
A US business delegation, including members of the President's Export Council (PEC), has supported the Philippines' call for a bilateral Free Trade Agreement (FTA) with the US.
PEC chairman Mark Ein stated that the FTA idea was discussed multiple times during the recent visit of US Commerce Secretary Gina Raimondo, who led a high-level Presidential Trade Mission to the Philippines.
Ein noted that while the council supports the proposed FTA, its realization requires Congressional action.
The proposed bilateral FTA was previously given the go-signal by the former Trump administration but was not favored by the current Biden administration.
Additionally, the PEC supports expanding the list of products in the US Generalized Scheme of Preferences (GSP) to benefit the Philippines, particularly domestic garment manufacturers.
The US is the Philippines' third-largest trading partner, with trade valued at approximately $20 billion.
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