PH, US pledge to enhance trade ties
THE Philippines and the United States have scored significant progress in resolving several bilateral trade issues under the bilateral trade and investment accord between the two countries.
In a joint statement, US Trade Representative Robert Lighthizer and Trade Secretary Ramon Lopez said both parties are committed to enhance economic relationship under the Trade and Investment Framework Agreement (TIFA).
“Both governments agree that enhanced bilateral engagement on trade under the TIFA should include work that yields benefits for agricultural producers, importers, exporters and consumers, and intend to work together in a number of areas,” the joint statement said.
Among others, both parties intend to collaborate “on the development of cold chain requirements and best practices in the Philippines,” taking into consideration the international guidelines and codes of practice about food hygiene.
The government welcomed the resolution of issues pertaining to market access for its agricultural products including mango, young green coconuts, and carrageenan, as well as the inclusion of travel goods in Generalized System of Preferences (GSP) accorded by the American government.
The US recognized its partners’ adherence to rules laid out by the World Trade Organization (WTO) by ensuring the consistent valuation of agricultural imports and enforcing laws, regulations, and policies prohibiting the use of reference pricing.
The Philippines, meanwhile, acknowledged America’s interest in extending the Philippine tariff rates on certain agricultural products which would help contribute to stable prices for food products.
The USTR mentioned the Philippine government’s effort to continuously protect geographical indications by ensuring transparency, due process, and fairness in the laws, regulations, and practices.
Moreover, both nations vowed to cooperate on the implementation of a work program as stipulated in the Association of Southeast Asian Nations-US TIFA on automotive standards issues.
The United States welcomed the commitment of the Philippines to further discuss ways to ensure that Philippine laws, regulations, and policies do not restrict or prohibit entry of US products.
“Both governments agree to continue technical dialogue and policy discussions on the National Retail Payments System (NRPS) and other measures related to electronic payment services, including domestic retail debit and credit electronic payment transactions,” the joint statement said.
The two countries concurred to a continued dialogue on priority issues of interest to them, including for the Philippines, discussions on seeking relief from US safeguard measures on solar cells and Section 232 tariffs on steel and aluminum.
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