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Blog Category: Philippines

Secretary Pritzker Meets with Philippine President Aquino, Trade and Industry Secretary Domingo, and Finance Secretary Purisima

Secretary Pritzker meets with Philippine President Benigno Aquino III

As part of a week-long commercial diplomacy trip to the Asia-Pacific region, U.S. Secretary of Commerce Penny Pritzker is in the Philippines to demonstrate the Obama administration's ongoing commitment to Asia. Along with members of the U.S.-ASEAN Business Council (USABC) and a delegation of U.S. CEOs, she is visiting the country to strengthen trade and investment and encourage deeper business-to-business ties.

The United States and the Philippines share a $24 billion per year trade relationship, one that was further bolstered by President Obama’s recent trip to the country in April. Today, Secretary Pritzker met with Philippine President Benigno Aquino III, and yesterday with Philippine Secretary of Trade and Industry Gregory Domingo and Finance Secretary Cesar Purisima, to build on that strong U.S.-Philippine relationship.

Secretary Pritzker congratulated President Aquino for his successful leadership and commended both Secretary Domingo and Secretary Purisima on the Philippines’ recent economic accomplishments and reforms, which have resulted in strong growth. In fact, the country has doubled its GDP growth rate from 3.6 percent in 2011 to 7.2 percent in 2013. In addition, Secretary Pritzker noted that the already strong trade relationship between the Philippines and the United States has continued to grow, with U.S. exports to the Philippines increasing over the past year.

During the meetings, Secretary Pritzker reaffirmed the United States’ commitment to the country and the ASEAN region and discussed opportunities for U.S. companies to support the Philippines’ infrastructure development needs, including the Clark International Airport. She also talked about outstanding U.S.-Philippine trade issues and steps the country could take to become an even more attractive destination for U.S. investment.