Phl reviews processes as prelude to possible US FTA

The Philippines is completing domestic processes in order to determine if it would start negotiations with the US for a free trade agreement (FTA).

“Talks are ongoing. I do not want to pre-empt the result, but the intention is to come to a decision, whether to start a FTA negotiation,” Trade Undersecretary Ceferino Rodolfo told reporters yesterday.

Rodolfo’s statement comes on the heels of a Reuters report that US Trade Representative Robert Lighthizer, who testified before a US Senate appropriations subcommittee on Thursday, said he wants a trade deal with the Philippines.

Aside from the Philippines, Lighthizer was quoted as saying the US is also interested in entering into bilateral trade deals with a number of sub-Saharan African countries.

Part of the domestic processes being conducted in the Philippines to come up with a decision are studies on the implications of having an FTA with the US, as well as consultations with stakeholders.

Rodolfo said looking into the possibility of entering into a bilateral trade deal with the US is crucial, given uncertainties in the global economy as countries are embarking on protectionist measures.

“In an uncertain global environment where there are more protectionist measures being instituted by all sides and there is fear of escalation with a trade war, I think it’s imperative for us to discuss and to ensure that our exporters will continue to have good access to our key markets and that includes the US, of course,” he said.

Rodolfo said preserving, securing and enhancing the Philippines’ market access to the US could come in the form of an FTA or other ways.

“But the important thing is we are looking at it and closely discussing this with the US,” he said.

He said the government wants to put the Philippines in a better place compared to other countries amid the trade war.