The decision of the Biden administration to send a high-level presidential delegation to the Philippines next year to boost investment and trade ties manifested the Philippines’ continuing strong partnership with the United States, President Ferdinand R. Marcos Jr. said over the weekend.
In his arrival statement after attending the 30th APEC Economic Leaders’ Meeting in San Francisco, California, Marcos said he looks forward to seeing more partnerships with American companies to materialize in the months ahead especially with the visit of the high-level US Presidential Trade and Investment Mission in March next year.
The Philippines and the US are also co-hosting the 2024 Indo-Pacific Business Forum (IPBF).
“Just as an explanation, the high-level business delegation that is coming is a delegation that was formed by (US) President (Joe) Biden himself and upon the request of the Philippines to explore the different opportunities for investment and for operations here in the Philippines, especially in the targeted sectors that we have been speaking about,” President Marcos said in his speech at the Villamor Air Base.
“And this is in fact a new feature as there has never been a presidential high-level delegation to any country before and that is again because of our continuing strong partnership with the United States.”
The Philippines and the US will co-host the 6th annual IPBF in Manila next year, which according to the White House, would “strengthen the Philippines’ position as a key hub for regional supply chains and high-quality investment.”
The IPBF is the US government’s annual commercial event in the region, gathering top leaders from the public and private sectors to review policy developments, disclose new investments, and explore partnerships.
The US co-hosted with Japan the 5th Indo-Pacific Business Forum last January 12, 2023, welcoming senior government officials, industry executives and other stakeholders.
The Biden administration’s launch of a Presidential Trade and Investment Mission to the Philippines could also deepen US firms’ investment in the local economy, covering energy transition, critical minerals sector, and food security. PND
