US-Phl people-to-people, trade ties remain positive

CEBU, Philippines - The consul general of the US Embassy is optimistic of the continued positive people-to-people and economic relations between the US and the Philippines.

Speaking at the general membership meeting of the American Chamber of Commerce of the Philippines-Cebu late Friday, Russel J. Brown said US' mission to the Philippines is among the largest globally.

With that, economic partnership and people ties between the US and Philippines are important.

Brown's optimism comes at a time when President Duterte's foreign policy is shifting towards closer neighbors in Asia particularly China and Russia.

Brown mentioned that the US remains among the top source of foreign direct investments (FDI) in the Philippines.

Based on data from the central bank, US is among those accounted for most of the FDI last year aside from Japan, Hong Kong, Singapore and Taiwan.

"US companies are among the largest investors in the Philippines [totaling to about] US$4 billion," the consul general said.

The US is also home to around 4 million Filipinos working and living there.

In the first two months of 2017, Filipino workers in the US also significantly contributed to the rise in cash remittances sent back home.

The US is also among the top source of foreign tourists to the Philippines.

The US is likewise among the Philippines top trading partners.

As of February 2017, US was the top market for Philippine exports which grew 0.3 percent to US$745.22 million, accounting for 15.6 percent of total exports, data from the statistics agency showed.

Products exported by the Philippines to US include components and semiconductor devices, garments, coconut oil, electronic equipment and parts, electronic data processing, sugar, processed food and beverages, and machinery, among others.

Moreover, the US also ranked fourth in terms of import source for the Philippines as of February. Philippine imports from US totaled P516.03 million, down 0.6 percent, accounting for 7.9 percent share of total import growth.

Furthermore, the US Embassy had said Filipinos are still welcome in the US.

Brown noted the US government's visa center in the Philippines is the third busiest in the world.

He said that they adjudicated around 65,000 immigrant visas in the Philippines last year.

They also processed around 14,000 passport applications last year, he also said.

The US State Department had clarified the Philippines has not been marked as a country of concern, which means Filipinos can continue their travels to and from the US, or benefit from living and working there.

Brown is also confident of the continued bilateral relations between the two nations, with the Philippines being one of the US' core relationships in Asia.

The US-Philippines relation is also defined by many Filipinos-Americans who have made home in the US but remained tied to the culturally Philippines, and is also evident across sectors such as security, economic and political. (FREEMAN)