According to Trade and Industry Secretary Manuel Roxas II, the Philippines’ shopping list from the US would also include two releases under the Overseas Private Investment Corp. (OPIC) for two projects – the Cypress/Sunpower semiconductor wafer project amounting to $350 million and an X-ray machine project for the Bureau of Customs amounting to $150 million.
OPIC is the US government’s national investment agency. It provides political risk insurance and loans to US companies that invest in more than 140 emerging markets and developing countries.
Among the items that the Philippines is seeking to have included in the US GSP list are carageenan and first-pressed pineapple juice.
Products included in the GSP list are able to enter the US duty-free.
The Philippines, for its part, Roxas said, expects to be able to present to the US its export incentives package for automobiles.
US carmaker Ford Motor Company is seeking incentives for its export of completely built up (CBU) units to other ASEAN countries.
Roxas, however, chose to remain diplomatic on possible pressure from the US on trade and agriculture matters which had been a bone of contention in the recently concluded 5th World Trade Organization Ministerial meeting in Cancun, Mexico.
"That’s Washington’s lookout. We pushed our national interest (in Cancun). I’m sure it will be taken up. We’ll see," Roxas said.
However, Roxas was hopeful that following the result of the WTO meeting in Cancun, "developed countries will be much more aware of the needs of developing countries. What we need is affirmative action."– Marianne Go