President Benigno S. Aquino III and United States Secretary of State John Kerry, lead the ceremonial toasts during the Dinner at the Aguinaldo State Dining Room of the Malacañan Palace on Tuesday (December 17, 2013). The visit to the Philippines is his first visit as Secretary of State. During his visit, the topics that are expected to be discussed are the broadening of economic and security cooperation of the Philippines and U.S. as well as strengthening of people-to-people ties. Humanitarian assistance and disaster response and cooperation on regional issues are also expected to be part of the agenda. In addition, Secretary Kerry will visit Tacloban City to meet people affected by Typhoon Yolanda as well as those involved in the relief effort. (Photo by Gil Nartea/ Malacanang Photo Bureau)
MANILA (Mabuhay) – US Secretary of the State John Kerry invited the Philippines to participate in the Trans-Pacific Partnership Agreement adding he expects a Filipino delegation in Washington early next year.
The Trans-Pacific Partnership Agreement would be able to raise standards of doing business, open up new opportunities, and convert 40 percent of the global GDP into one economic group for improved global trade, Kerry said in a message to the American and local businessmen in Manila Tuesday.
He also said the TPP could create millions of jobs in the Asia-Pacific region. Kerry said the TPP will set standards for consumers and workers.
“We will welcome a Philippine delegation to Washington at the end of January to start a technical consultation regarding this. The TPP, as I said, will bring 40 percent of the world’s economy together into one historic high standard trade agreement,” he told businessmen.
However, Kerry said it is up to the Philippine government to decide whether it wants to join the trade bloc depending on its assessment of its possible gains.
The TPP is a trade agreement among several Asia-Pacific countries aimed at further liberalizing the economies of the region.
Kerry also said in his message that the US believes that the Philippine economy could remain strong if the country and the US work together in terms of trade and economic relations.
The US official acknowledged the huge potential of the Philippine economy considering its standing as one of the strongest economies in the world today.
The Philippines proved that kind of transformation noting free market and free market ideas could convert the entrepreneurial spirit of every individual, he said.
“And that is why the country’s successes send a powerful message not just throughout the region but on a global basis,” he said. (MNS)