US-PH bilateral FTA not likely to happen under Biden admin
President Joe Biden’s administration has not shown any interest in building a bilateral Free Trade Agreement (FTA) with the Philippines, according to Philippine-US Society Executive Director Hank Hendrickson.
During the virtual Philippine Economic Zone Authority (PEZA) Global Biz Webinar, Hendrickson stated that the current United States admin has “no appetite” for new initiatives toward bilateral or even regional trade policy negotiations.
However, he assured that the “two governments will remain active on trade investment promotion and facilitation.”
The trade and investment promotion and facilitation program offers assistance available under the International Development Finance Corporation, the US embassy, the USAID, as well as the State Department, among others.
Despite the lack of FTA interest, US Charge D’Affaires to the Philippines Heather Variava noted that they are willing to help in investments towards clean energy, 5G Internet, and government digitalization.
Variava emphasized that the US-Philippine alliance remains strong. Just last November, a bilateral Strategic Dialogue was convened by both countries that aim to further deepen and expand their relationship and address common challenges on the pandemic and other regional issues.
