Bilateral trade relations between Washington and Manila are aligned with the US’ prosperity agenda, with American investors bullish about the Philippines’ high-value industries, the US ambassador was quoted by Philippine officials as saying.
In a social media post on Wednesday, the Department of Finance (DOF) said Philippine officials led by Finance Secretary Ralph G. Recto and US officials headed by US Ambassador MaryKay L. Carlson met in Manila on February 18 to reinforce trade and investment ties between the two nations under the administration of President Donald Trump.
The DOF said Carlson expressed US investors’ confidence in the Philippine market, particularly regarding potential investments in the Luzon Economic Corridor and other high-value industries, such as semiconductor and manufacturing supply chains.
Carlson reaffirmed bilateral trade relations between Washington and Manila are in a good place and in line with America’s prosperity agenda, the DOF statement said.
It said the US ambassador commended the Philippines’ consistent improvement of its trade and customs facilitation measures.
Recto also expressed appreciation for Washington’s unceasing support and partnership with the Philippine government, especially in development efforts.
He recognized the US as one of the country’s largest trading partners, and highlighted Manila’s economic and development priorities that are aligned with President Trump’s foreign policy.
The DOF said it looks forward to the completion of the review on foreign development assistance, and anticipates the continuation of its ongoing and pipeline projects in education, energy, information and communications technology, infrastructure and anti-red tape reforms.
Recto also spoke to Carlson about the Philippines’ growth prospects this year and noted the country’s optimism in strengthening its development cooperation and trade relations with the US.
