DTI expects enhanced PH-US business partnerships

The Department of Trade and Industry (DTI) has expressed optimism that arrival of the high-level United States (US) trade and investment mission in the Philippines next week would improve the business partnerships of both countries.

“There will be a high-level delegation comprised of 22 business delegates, C-level representatives from strategic sectors and the discussion next week is, of course on how to enhance our trade and investment relations,” DTI foreign trade service officer Jollan Margaret Llaneza said in a weekly news forum in Quezon City.

“Our goal here is, of course, to foster sound relationships between our Philippine business sectors with their American counterparts so we will have commercially meaningful partnerships,” she added.

US President Joe Biden will send a Presidential Trade and Investment Mission to Manila on March 11-12. Headed by US Commerce Secretary Gina Raimondo, the US delegation is expected to meet with President Ferdinand R. Marcos Jr. DTI Secretary Alfredo Pascual and Philippine business leaders.

Llaneza noted that in terms of trade and investment relations, the US is one of the Philippines’ top three trading partners, along with Japan and China. The visit of Biden’s trade mission is the result of Marcos’ visit to the United States last year.

The White House announced that 22 high-level business executives would be part of the delegation that will explore business opportunities in the Philippines, as part of the two nations’ commitment to further boost their commercial ties.

Raimondo is also expected to meet with the Private Sector Advisory Council and Philippine business organizations. (PNA)