DAVAO CITY — United States President Joe Biden on Monday told President Ferdinand Marcos Jr. that he will send a “first of its kind” presidential trade and investment mission to the Philippines in a bid to promote broad-based economic growth.
Biden announced this initiative following the bilateral meeting with President Ferdinand R. Marcos Jr. in Washington, D.C.
The two Presidents on Monday renewed their commitment to elevate Manila and Washington’s alliance during the two leaders’ bilateral meeting in Washington.
In his opening remarks, the Philippine leader noted with concern the escalating tensions in the Asia-Pacific and cited US’ assistance in maintaining peace and contribution to the stability and development of the region.
Marcos raised the need to “find ways to strengthen our alliances and partnership in the face of the new economy that we are facing post-pandemic.”
“Beyond that, there are also issues, geopolitical issues that make the region… the Philippines is, possibly, arguably the most complicated geopolitical situation in the world right now,” Marcos said.
The President said it is “only natural” for the Philippines to “look to its sole treaty partner in the world, to strengthen and to redefine the relationship that we have and the roles that we play in the face of these… tensions that we see now around the South China Sea and the Asia-Pacific and Indo-Pacific region.”
“We have many things that are new that need to be assessed and again our role as partners in the world…in our worldview of what we are hoping for the future of peace, not only in the Asia-Pacific and Indo-Pacific region but in the whole world,” he said.
Biden, for his part, said Washington remains “ironclad in our commitment to the defense of the Philippines, including the South China Sea and we’re gonna continue [supporting] the Philippines’ military modernization.”
“Our countries not only share strong partnership. We share deep friendship, one that has been enriched by millions of Filipino-Americans and the communities all across the United States,” Biden added.
This is the second in-person bilateral meeting between the two leaders. Their first meeting was on the sidelines of the 77th Session of the United Nations General Assembly (UNGA) last September 2022 in New York, where they renewed their commitment to the alliance and partnership and agreed to firm up cooperation in priority sectors, as well as their respective visits to the Philippines and the US (PND)
The mission is expected to enhance US companies’ investment in the Philippines’ innovation economy, clean energy transition and critical minerals sector. It would also feature the highest caliber of US business leaders.
Biden underscored the “strong partnership” and “deep friendship” between the Philippines and the US that has been “enriched by millions of Filipino-Americans and the communities all across the United States.”
Biden also committed to step up America’s support in a wide range of issues, including climate change mitigation and economy.
“We’re tackling climate change, we’re accelerating our countries’ chances… and we’re standing up for our shared democratic values and workers’ rights… and together we’re deepening our economic cooperation,” Biden told Marcos.
Both leaders have agreed to deepen collaboration to fight climate change, expand clean energy production and protect the environment.
In a joint statement, Marcos and Biden particularly reaffirmed to undertake urgent action to reduce greenhouse gas emissions, as well as expand renewable energy production to accelerate the clean energy transition while bringing down energy costs and expanding energy access for families.
Marcos thanked Biden for America’s assistance and sought to strengthen “alliances and partnership in the face of the new economy that we are facing post-pandemic.”
During Monday’s Oval Office meeting, the two leaders reviewed opportunities to deepen economic cooperation and promote inclusive prosperity, expand both nations’ special people-to-people ties, invest in the clean energy transition and address the climate crisis and ensure respect for human rights.
The leaders also discussed regional matters and coordinate efforts to uphold international law and promote a free and open Indo-Pacific.
Philippine Cabinet officials and their US counterparts also held a meeting with Marcos and Biden in an expanded bilateral meeting in the White House.-with report from PNA
