NEW YORK – The Philippines continues to aggressively push for a bilateral free trade agreement with the US, according to the Department of Trade and Industry .
But the Philippines isn’t giving up and remains very hopeful on having an FTA with the US, said Rodolfo.Nonetheless, there is strong support for the FTA from American businesses including members of the US Chamber of Commerce, the world’s largest business organization, Rodolfo said. Just the same, the Philippines is also looking forward to the full implementation of the IPEF, Rodolfo said.
The IPEF aims to address specific trade challenges compared to the traditional FTA, which liberalized trade but had created vulnerabilities in the supply chain. While waiting for the FTA, Rodolfo said the Philippines is pushing for the renewal of the US Generalized System of Preferences , the largest and oldest US trade preference program.
Source: News Formal (newsformal.com)
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