US trade to bring in more jobs in the manufacturing industry
A proposed free trade agreement between the Philippines and the USA can potentially create millions of jobs in the manufacturing industry.
The wearable manufacturing industry in the Philippines now employs 300,000 workers which is 15 times smaller than Vietnam. Vietnam and the US have a bilateral trade agreement.
Discussion of free trade pact alone would entice foreign investors to position in the Philippines for a chance to export to the US tariff-free.
Philippine travel goods were included in expanded US General System of Preferences scheme, which would allow duty-free entry of these products into the US market. However, according to Lopez this only accounts for 40 percent of the total tariff lines of the US.
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