Interest in TPP deal expressed anew as US executives visit

THE PHILIPPINES could finally seek entry to the proposed Trans-Pacific Partnership (TPP) after President Benigno S. C. Aquino III again expressed interest in a meeting with US business leaders yesterday.

“They [businessmen] asked questions on TPP. The President said we are interested in pursuing the TPP,” said Trade Secretary Gregory L. Domingo, who was present at the meeting

“They raised it as a question... They [businessmen] are for it,” he added.

The TPP, currently being discussed by 11 countries, is expected to further liberalize trade in the Asia-Pacific region. The Philippines, while expressing interest, has balked at the inclusion of non-trade standards as prerequisites for membership.

The deal is also seen as a means for Washington to ensure its continuing involvement in the region amid increasing Chinese dominance.

The president, said Mr. Domingo expressed optimism regarding the country’s TPP entry given growing business interest.

Yesterday’s meeting was facilitated by the US-Philippines Society, a lobby group chaired by businessmen Manuel V. Pangilinan and former US Ambassador to the Philippines John D. Negroponte.

Also present were Finance Secretary Cesar V. Purisima and Foreign Affairs Secretary Albert F. del Rosario.

The Trade secretary claimed the businessmen, who are on a three-day visit, wanted to “increase business relationships” with the Philippines and make the country the “hub for ASEAN (Association of Southeast Asian Nations) manufacturing by US companies.”

Also discussed were the country’s medical tourism prospects, as well as the provision of medical care for Filipinos in the US, Mr. Domingo said.

January 24, 2013

Source: bworldonline