Philippines, US promote trade, investment cooperation
The alliance between the Philippines and the US is very solid and many US businesses want to invest in the Southeast Asian country, US Secretary of Commerce Gina Raimondo said on March 11 during her two-day official visit to the Philippines.
US Secretary of Commerce Gina Raimondo (Photo: AFP/VNA)
Hanoi (VNA) – The allianc♕e between thePhilippines and the US is very solid and many US businesses want to invest in the Southeast Asian country, US Secretary of Commerce Gina Raimondo said on March 11 during her two-day official visit to the Philippines.
Speaking at a joint press conferencewith the host country’s officials, Raimondo emphasised the US-Philippine "ironclad" alliance isiron clad, which has been sustained over 72 years, and they remain steadfast friendsand increasingly important partners. Onthis occasion, Raimondo said that US companies plan to announce a total investment of more than 1billion USD in many fields in the Philippines, such as solar energy, electricvehicles and digital. TheUS trade and investment delegation led by Raimondo visited the Philippines for two daysfrom March 11. This delegation includes top leaders of about 22 Americancompanies including GreenFire Energy, Google Asia Pacific, Visa, UnitedAirlines and KKR. Inan interview with the press before the visit, Raimondo emphasised thatWashington wants to deepen its economic commitments in the Indo-Pacific, one ofthe fastest growing and most dynamic economies in the world. Raimondosaid her trip aims to strengthen economic and trade relations in this region. After the visit to the Philippines, Raimondoplanned a two-day visit to Thailand which will focus on ensuring sustainable supply chains, manufacturing activities, artificialintelligence and clean energy. She will attend the meeting of ministers inBangkok underthe Indo-Pacific Economic Framework for Prosperity (IPEF)./.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
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US Secretary of Commerce Gina Raimondo (Photo: AFP/VNA) 
