MANILA -- AmCham Philippines, the oldest American chamber of commerce outside the United States, hopes the Philippines will become a member of the Trans-Pacific Partnership (TPP) soon.
The TPP aims to establish a free trade bloc among several countries.
It is expected to be sealed by the end of the year by the US, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
In a statement, the group of American businessmen expressed hope that the state visit of US President Barack Obama will usher stronger “bilateral trade and investment relations, along with deep cultural and security…”
“We hope that the Philippines will be welcomed into the group of countries in the TPP at the earliest opportunity to help sustain high levels of economic growth needed for the Filipino people to enjoy better lives in future years,” the group said.
The Department of Trade and Industry earlier said limitations in the Constitution may prevent the country from joining the trade pact.
The government may ask for “flexibility” from the TPP’s members.
“The members of AmCham Philippines wish President Obama and President Aquino great success in their discussions and look forward to enhanced economic and security relations,” AmCham said.
“It has been more than a decade since a US president visited here, making this visit and the visit next year during the APEC leaders summit very significant to the many American businesspersons and citizens living and working in the Philippines,” the group added.