Philippines studying possible free trade deal with US


Posted at Apr 25 2017 04:51 PM

Philippines studying possible free trade deal with US 1

MANILA - The Department of Trade and Industry said Tuesday it was studying the possibility of a free trade agreement with the US, ahead of US President Donald Trump's visit to the Philippines.

An FTA could be discussed if the US side raises it during Trump's trip to Manila in November, Trade Secretary Ramon Lopez said.

The Philippines receives preferential treatment for select import items under the US Generalized System of Preferences.

"Frankly, we're comfortable, we're happy with the GSP privileges, it's benefiting us. They're one of the biggest economies, it's really for them to help developing countries like us," Lopez said. 

"It could be a one way support for now, granting that privileges, we need it more than they need it," he added.

Trump's visit to the Philippines will be first since he was sworn into office last January.