RP, US seen moving close to FTA
Manila Times, 22 March 2006
RP, US seen moving close to FTA
Angelo S. Samonte
The United States government is intensifying its economic relationship with the Philippines through the Trade and Investment Framework Agreement (TIFA) as the two countries work on starting negotiations for a free trade agreement (FTA).
Speaking at the Asia-Pacific Council of American Chambers of Commerce in Manila last week, Deputy US Trade Representative Karan Bhatia said they have intensified their work under TIFA with the Philippines.
"The dialogue has successfully addressed issues both large and small, for example, the Philippines has lifted its ban on US beef, passed new IP legislation and increased coordination among its IP [intellectual property] agencies, and addressed US concerns on planned increases on auto tariffs," he said.
While US and Filipino negotiators are addressing high priority issues, American companies and investors have benefited in recent dialogues, he added.
The Philippine government and the private sector have said earlier that they are still studying the possibilities of starting talks with the US for an FTA.
The US government announced the enterprise for Asean initiative (EAI) three years ago, which aims to deepen trade relationship with Asean countries by creating a network of bilateral trade agreements to those having TIFAs with the US.
The EAI offers the prospect of bilateral FTAs between the US and Asean countries that are committed to economic reforms and openness.
The goal is to create a network of bilateral FTAs, which will increase trade and investment, tying more closely together our economies and our futures.
The EAI initiative will encourage bilateral and regional liberalization, and help APEC reach its goals for achieving free and open trade and investment in the Asia Pacific region.
Under the EAI, the US and individual ASEAN countries will jointly determine if and when they are ready to launch FTA negotiations. The EAI allows Asean countries the flexibility to move at their own speed toward an FTA with the US.
