“We continue to look forward to an FTA with the US which will serve as a more permanent mechanism to lock in market access interests and other binding commitments to expand bilateral trade and investment,” Trade Secretary Alfredo E. Pascual said during the US-Asia Pacific Economic Cooperation Business Coalition Meeting in Bangkok on Nov. 18.
In 2020, the Philippine GSP utilization rate was 74% and GSP shipments were valued at $1.56 billion, the DTI estimates. Mr. Pascual said that the Philippines will join the first negotiating meeting of the US-led Indo-Pacific Economic Framework in Brisbane, Australia in December.
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