As a major player in maintaining the active and open relationship between the United States and the Philippines, the US-Philippines Society (The Society) is committed to usher and sustain trade relations to the next level.

"Our relationship with the US is at its best. This is the time we have to take advantage of this relationship, because the interest is so high. I can tell you that, we are very busy in Washington, we spend most of our time talking to business people who are interested to invest," stressed Philippine Ambassador to the United States Jose Manuel Romualdez in a press briefing on Feb. 27.

The Society is a non-profit organization comprising of US and Philippine government officials, business leaders, and other stakeholders on a mission to strengthen the ties of the two nations.

Romualdez noted that there are more entities that have sought membership in The Society, evidenced by their well-attended board meetings held from Feb. 25 to 28.

Among the topics discussed were on security and foreign policy, women and leadership, health development, and disaster response and climate resilience.

Romualdez announced that prominent businessman Ayala Corporation Chairman Jaime Zobel de Ayala was appointed as a new co-chair of The Society's Board of Directors.  

"The Society is really very important in our relations with the US, because it is what we call a 'continuing bridge' from both sides. The Society always makes sure that relationship remains stable and strong," he said.

Based on their meetings, The Society members and former US Ambassadors to the Philippines John Negroponte and Thomas Hubbard lauded the productive partnership of local officials and businesses in boosting the economic sector.

"I think the Philippines is becoming more and more an attractive place to invest, with great interest to countries. Your growth rate has been very impressive, and the prospects this year also being very good," remarked Negroponte.

He highlighted that, in terms of making the Philippines more hospitable to investments, "political disposition today is much more availing for foreign investment opportunities," while the private sector dominates the economy.

There remains structural issues such as in the distribution of energy, and other bottlenecks, but these can offer further opportunities for international cooperation, he added.

"The relationship between the US and the Philippines has reached a new level with common security concerns, common economic interests, and the broad regional contexts...Both sides are working very hard to develop the economic side of the relationship," said Hubbard.

March Trade Mission

As a testament to The Society's efforts, a Presidential Trade and Investment Mission, organized by the White House and  led by US Secretary of Commerce Gina Raimondo will commence in the Philippines this March.

The first-of-its-kind, the delegation will comprise of around 30 chief executive officers (CEOs) of prominent US companies focused on key sectors, particularly  potential partners and stakeholders who can contribute to expanding the Philippine manufacturing and semiconductor industries.

Romualdez said the US is committing to help the country's mineral processing sector by aiding the development of processing plants to enable local production and direct exportation of minerals such as nickel to the US.

The mission will also aim to discuss the Philippines' potential involvement as one of the seven chosen beneficiaries of the US funding from the CHIPS and Science Act, to boost the manufacturing segment of the semiconductor industry.

Romualdez explained that the mission seeks to help improve the Philippine economy's competitiveness in the global market.

The country will participate in the discussion of the Indo-Pacific Economic Framework in May, which aims to develop the US' interests and ties at the regional level.

"We want to have more business because economic prosperity means economic security for us. It is very important for us to have that, so that if in the event that there will come some form of economic coercion of countries that are aggressively trying to do things to us, we'll have something to fall back on," emphasized Romualdez.