Biden to send US Presidential Trade and Investment Mission to Philippines
By Robina Asido
United States President Joe Biden will send a "Presidential Trade and Investment Mission" to enhance the role of American companies in the Philippines.
This was announced by Biden during his bilateral meeting with President Ferdinand Marcos Jr. in Washington on Monday.
According to the White House, the Presidential Trade and Investment Mission which is the " the first mission of its kind" will feature the highest caliber of US business leaders.
"President Biden intends to dispatch a Presidential Trade and Investment Mission to the Philippines on his behalf to enhance U.S. companies’ investment in the Philippines’ innovation economy, its clean energy transition and critical minerals sector, and the food security of its people," it stated.
Pending Congressional notification, the two leaders also announced that the United States and the Philippines will co-host the 2024 Indo-Pacific Business Forum in Manila, which will further establish the Philippines as a key hub for regional supply chains and high-quality investment.
"The IPBF, sponsored by the US Trade and Development Agency (USTDA), is the United States’ marquee annual commercial event in the region, convening the highest level of public and private sector leaders to review policy developments, announce new investments, and identify new commercial partnerships," the White House said.
Both leaders also welcome US plans to establish an Open-RAN (radio access network) Interoperability Lab in Manila to advance a secure 5G rollout in the Philippines, pending Congressional notification.
"The Lab will provide hands-on training to current and aspiring 5G professionals and provide an opportunity for vendors and operators deploying Open RAN worldwide to teach and educate local engineers in how to design, build, and operate these open, secure, and interoperable networks."
Recognizing the importance of enhancing and sustaining joint efforts in outer space activities, Biden and Marcos also welcome their countries’ plan to prioritize and strengthen bilateral space cooperation, including by convening their first bilateral Civil Space Dialogue this year.
The White House noted that "the United States and the Philippines will strengthen bilateral cooperation on space situational awareness and the use of space for maritime domain awareness, including through the first-ever US-Philippines Civil Space Dialogue".
The two countries "will collaborate on the use of space-based technology in the areas of disaster management and emergency response, healthcare, mapping of resources and accessibility, pollution monitoring, deforestation, land use and infrastructure planning, and maritime awareness."
"The leaders welcome the strengthening of bilateral cooperation on the Landsat Program, including the possibility for the Philippines to download imagery directly from Landsat satellites to its ground stations," it stated.
As they recognized that the climate crisis poses an existential threat to the world, Biden and Marcos reaffirmed their commitment to undertake urgent action to reduce greenhouse gas emissions.
"They resolve to expand collaboration on renewable energy production to accelerate the clean energy transition while bringing down energy costs and expanding energy access for families. The leaders hail progress in negotiating a U.S.-Philippines civil nuclear cooperation agreement (“123 agreement”)," a joint statement said.
"The United States and the Philippines will also pursue an ambitious program of cooperation on wind, solar, and geothermal energy, while enhancing cooperation on reducing greenhouse gas emissions from the waste, road, and shipping sectors," it added.
During the meeting Marcos thanked Biden for America’s assistance and sought to strengthen “alliances and partnership in the face of the new economy that we are facing post-pandemic.”
Palace said Monday’s Oval Office meeting also included discussions on security, education, and other initiatives as part of Marcos’ five-day official visit to Washington.
Philippine cabinet officials with their US counterparts also held a meeting with Marcos and Biden in an expanded bilateral meeting in the White House.
Philippine officials who attended the expanded bilateral meeting include National Security Adviser Eduardo Ano; Department of Defense Officer in Charge and Senior Undersecretary Carlito Galvez Jr.; Environment and Natural Resources Secretary Antonia Yulo Loyzaga; Trade and Industry Secretary Alfredo Pascual; Information and Communications Technology Secretary Ivan John Uy; Justice Secretary Jesus Crisoin Remulla; Migrant Workers Department Secretary Maria Susana Ople and Foreign Affairs Secretary Enrique Manalo. DMS
