THE United States government urged the Philippines to “examine constraints to economic growth” during the recent high-level talks held in Washington, citing that although the country remains its vital trading partner, concerns on trade and investments must be addressed.
US Ambassador to the Philippines Harry Thomas said his government stands ready to conclude a more mature trade agreement with the country, moving from the 1989 Trade and Investments Liberalization Agreement.
Thomas said the Philippines has been identified by the Obama administration as one of the four priority countries for wider engagement on trade and investments, political and security and humanitarian assistance.
He said US Trade Representative Ron Kirk has sent his deputy to the Philippines three times to discuss measures to elevate the existing economic agreement by improving trade and investments climate in the Philippines.
“The talks are progressing, it is now up for the Philippines to decide on how and when it will open up [its market to more trade and investments],” said Thomas.
The second high-level talks between Philippines Foreign Undersecretary Erlinda Basilio and Assistant Secretary of State for East Asian and Pacific Affairs Kurt Campbell tackled issues that hinder the Philippines’ economic growth.
The US government has emphasized the need to improve the country’s judicial system, raising concern on the lack of convictions in the numerous cases of extrajudicial killings of journalists and militants during the Arroyo administration.
The US panel also raised pressing concerns on the worsening problems on human trafficking.
“We would like to further our partnership with the Philippines,” Thomas told the BusinessMirror in an interview. “[But] the Philippine government needs to examine constraints to economic growth,” said Thomas.
The US government is currently advancing trade relations with economies in Asia Pacific through the Trans-Pacific Partnership Agreement and the Tifa with the Association of Southeast Asian Nations, of which the Philippines is a member.
To view the original article by Estrella Torres published by the Business Mirror, click here.
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