Biden to send special trade mission to Philippines
2 min read
US PRESIDENT Joseph R. Biden, Jr. vowed to send a “first of its kind” Presidential Trade and Investment Mission to the Philippines.
Mr. Biden made the announcement during his meeting with President Ferdinand R. Marcos, Jr. at the Oval Office on Monday.
“President Biden and President Marcos resolve to draw on the strength of their partnership to promote enduring economic growth and prosperity in the United States, the Philippines, and the broader Indo-Pacific region,” they said in a joint statement posted on the White House website.
Mr. Biden will send the trade and investment mission “to enhance US companies’ investment in the Philippines’ innovation economy, its clean energy transition and critical minerals sector, and the food security of its people.”
The trade and investment mission will include the “highest caliber of US business leaders.”
The Philippines and the US will co-host the 6th annual Indo-Pacific Business Forum (IPBF) in Manila in 2024 to “further establish the Philippines as a key hub for regional supply chains and high-quality investment.”
The IPBF is the United States’ marquee annual commercial event in the region, convening the highest level of public and private sector leaders to review policy developments, announce new investments, and identify new commercial partnerships.
The US Department of Commerce is also planning to dispatch its first-ever trade mission on agricultural technology to the Philippines in September 2023, with stops in Manila and Davao City.
The US is also planning to establish a brick-and-mortar Open RAN Interoperability Lab in Manila. This would advance and secure the 5G rollout in the Philippines, strengthen the Southeast Asian nation’s innovation economy, and provide digital upskilling opportunities to Filipino workers, the White House said.
INFRASTRUCTURE
Also, the White House said the US Agency for International Development (USAID) will launch new infrastructure activities intended to…
BusinessWorld
2023-05-02 12:32:29
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