MANILA (Mabuhay) – US Secretary of the State John Kerry invited the Philippines to participate in the Trans-Pacific Partnership Agreement adding he expects a Filipino delegation in Washington early next year.
The Trans-Pacific Partnership Agreement would be able to raise standards of doing business, open up new opportunities, and convert 40 percent of the global GDP into one economic group for improved global trade, Kerry said in a message to the American and local businessmen in Manila Tuesday.
He also said the TPP could create millions of jobs in the Asia-Pacific region. Kerry said the TPP will set standards for consumers and workers.
“We will welcome a Philippine delegation to Washington at the end of January to start a technical consultation regarding this. The TPP, as I said, will bring 40 percent of the world’s economy together into one historic high standard trade agreement,” he told businessmen.
However, Kerry said it is up to the Philippine government to decide whether it wants to join the trade bloc depending on its assessment of its possible gains.
The TPP is a trade agreement among several Asia-Pacific countries aimed at further liberalizing the economies of the region.
Kerry also said in his message that the US believes that the Philippine economy could remain strong if the country and the US work together in terms of trade and economic relations.
The US official acknowledged the huge potential of the Philippine economy considering its standing as one of the strongest economies in the world today.
The Philippines proved that kind of transformation noting free market and free market ideas could convert the entrepreneurial spirit of every individual, he said.
“And that is why the country’s successes send a powerful message not just throughout the region but on a global basis,” he said. (MNS)