US business leaders to visit Phl next month

MANILA, Philippines - US Commerce Secretary Penny Pritzker will lead a delegation of business leaders from the US on a visit to the country next month.

Pritzker discussed her upcoming visit to Manila with Vice President Jejomar Binay in Washington, where he was keynote speaker at the Banyan Tree Leadership Forum at the Center for Strategic and International Studies, a Washington-based think-tank.

US President Barack Obama, during his visit to Manila on Monday, said a US business delegation will visit the country “to explore new opportunities.”

“The engagement of our respective private sectors is critical for strengthening our ties and for generating economic growth and high-paying jobs both in the United States and in the region,” according to “Fact Sheet: United States-Philippines Bilateral Relations” released by the US.

The Philippines and the US have a $24-billion annual trade relationship and the two governments are committed to building on that for mutual benefit.

Manila and Washington also discussed Philippine interest in the Trans-Pacific Partnership, which the US sees as the most promising pathway to promoting Asia-Pacific economic integration and the best way for countries in the region to encourage economic reform and development, increase regional and global competitiveness and create jobs.

The Philippines and the US signed on Monday the Enhanced Defense Cooperation Agreement after nearly two years of intensive and comprehensive negotiations.

The eight rounds of negotiations were preceded by preparatory discussions that took almost two years to complete. – Pia Lee-Brago