Philippines pursue US free-trade accord
ISSA News (Singapore)
Philippines Pursue U.S. Free-Trade Accord
February 28, 2007
According to the Philippines’ Department of Trade and Industry, the Philippines and the United States have agreed to pursue talks for a comprehensive free-trade agreement (FTA).
Trade Secretary Peter B. Favila said U.S. President George W. Bush instructed U.S. diplomatic officials to conduct pull-aside meetings, which are informal talks that the trade official considered better than bilaterals, reported the Manila Times.
"We want to conduct thorough consultation with NGOs and all sectors concerned," Favila was quoted as saying. "We don’t want to make the same issues like the JPEPA [Japan-Philippine Economic Partnership Agreement] so we are after an extensive and comprehensive consultation with all sectors."
Favila added that the Philippines has sent "several missions to Washington" to map out the possible FTA but that "there were mixed reactions."
The Philippine team is currently preparing a "concept" that would include three phases of the possible RP-US FTA since the U.S. policy on FTAs is "really a comprehensive one."
Under Phase 1 of the package, the two parties must agree on common products, like garments and textiles. Phase 2 would involve granting additional concessions on more sensitive products while Phase 3 would cover a more comprehensive range of products and services.
