Philippines proposes free trade agreement with US

菲律賓提出與美國的自由貿易協定

Duterte administration proposes FTA between two countries to Trump


TAIPEI(Taiwan News)- The administration Philippine President Rodrigo Duterte proposed to U.S. President Donald Trump that a free trade agreement (FTA) be signed between the two countries on November 13, according to Rappler.

The proposed FTA would be more beneficial to the Philippine economy than the United States’Generalized System of Preferences, which is designed to give developing countries a lower tariff in order to make their access to developed economies’ markets easier.

According to The Manila Times, Philippine Trade Secretary Ramon Lopez told reporters that “President Trump welcomed the suggestion and said they will consider exploratory talks.”

Based on data released by the Philippines, the U.S. is its top export market in September, thus an FTA with the U.S. will have a positive effect on Philippines’ economic development.