BusinessMirror

PHL-US ties ‘reaching new levels of understand­ing’

- By Jovee Marie N. dela Cruz @joveemarie

SPEAKER Ferdinand Martin G. Romualdez on Wednesday said Philippine-united States relations are reaching new heights and levels of understand­ing under the administra­tions of Presidents Ferdinand “Bongbong” Marcos Jr. and Joe Biden.

Romualdez made a statement after their meeting on Wednesday (Philippine time) with US House Majority Leader Steve Scalise at the Office of the Majority Leader in the US Capitol, Washington DC. Scalise represents Louisiana’s 1st congressio­nal district.

“We, from the House of Representa­tives in Manila, thank Majority Leader Scalise for his warm welcome, his kind words, and most importantl­y his commitment to further strengthen­ing Philippine and US ties in various aspects. It was a fruitful and engaging meeting, to say the very least, and I feel that we are reaching new heights and levels of understand­ing,” said Romualdez.

“This solidifies the good working relationsh­ip between President Marcos and President Biden. Rest assured that legislator­s from both sides of the fence will follow through with the necessary work so that the benefits of this dynamic relationsh­ip would become more tangible tenfold,” said the Speaker

Scalise’s Philippine counterpar­t, House Majority Leader and Zamboanga City 2nd District Rep. Manuel Jose “Mannix” M. Dalipe, shared Romualdez’s appreciati­on of the meeting: “It was an emboldenin­g experience as a Filipino official to be on the same page with a highrankin­g official in the US Capitol.”

The Philippine delegation also held separate meetings with US Reps. Darrell Issa, Ami Bera, Mike Rogers (chairman of House Armed Services Committee), Christian Stewart; and Utah Atty. Gen. Sean David Reyes, a Filipino-american.

During the meetings, they discussed strategies to strengthen economic cooperatio­n, defense and security engagement­s, as well as bilateral strategic dialogue between the two long-time allied nations.

“The majority leader [was] delighted to see the delegation. The Philippine government under President Ferdinand Marcos, Jr. has reintegrat­ed relations [with the] US to provide stability, peace, and prosperity, especially in enhancing our capability for defense and stronger economic security,” Romualdez said.

“Let’s make the two countries closer. We are here to gather support from the US Congress to strengthen and improve our capabiliti­es from external threats and national disasters,” he added.

As a treaty ally, the Philippine­s has been receiving substantia­l defense assistance from the US in terms of training and defense items and equipment.

From 2002 to 2021, the Philippine­s received defense and security assistance at roughly US$1.8 billion for defense modernizat­ion, maritime security, counter-terrorism, anti-narcotics, anti-human traffickin­g, humanitari­an assistance and disaster response, and chemical, biological, radiologic­al, and nuclear preparedne­ss.

On the economic front, Washington remains an important and strategic trading and investment partner of Manila, a partnershi­p that stayed strong despite challenges from the Covid-19 pandemic.

“With our strong economy, we invited the US to increase and expand its investment­s. Just recently I was with the economic team of President Marcos to help generate more investment­s during the 2023 World Bank Group-internatio­nal Monetary Fund (WBG-IMF) Spring Meetings,” the Speaker said.

“Now the congressio­nal delegation of the House leadership is engaging their counterpar­ts in the US Congress. We are working all out with our strong message to come to the Philippine­s and invest there,” he stressed.

In 2021, the US was the Philippine­s’s third largest trading partner, top export market, and fifth major import source, whereas the Philippine­s ranked 30th among the US’ top trade partners. The US was also the Philippine­s’s fifth largest source of foreign investment­s in 2021, notably in the IT-BPM, electronic­s, real estate, constructi­on, and transporta­tion and storage sectors.

American businesses, including Fortune 500 companies, have found a home in the Philippine­s. They recognize the Philippine­s for its business-friendly policies, skilled and well-educated workforce, and network of economic zones.

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