Phl eyes economic gains from defense pact with US

MANILA, Philippines - The Philippines is hopeful the ongoing talks on the Enhanced Defense Cooperation Agreement with the US, which has economic implications for both countries, will be concluded before US President Barack Obama visits the country later this month.

“I am hopeful there will be a conclusion of the agreement before the visit of President Obama,” Philippine Ambassador to the US Jose Cuisia Jr. told reporters at the joint membership meeting of the Makati Business Club and Management Association of the Philippines, noting that the agreement is beneficial to both the Philippines and US.

The eighth round of negotiations for the proposed Enhanced Defense Cooperation Agreement seeking to further strengthen the security partnership of the two countries by granting American troops greater access to the country’s military bases is taking place from April 10 to 11.

Obama will be in the Philippines from April 28 to 29.

Cuisia said defense and security cooperation as well as enhanced economic ties are among those to be discussed during the visit.

The defense agreement, he said, is expected to allow greater cooperation in terms of training as well as the country getting more modern equipment.

“This agreement, will enable us to build a minimum credible defense posture that would mean also not just training but hopefully we can get more equipment in the future,” he said.

He noted that it will be up to the Armed Forces of the Philippines to say what they need.

On the economic side, the Philippine government is interested in how it can further strengthen its ties with the US.

As the Philippines is interested in entering the Trans-Pacific Partnership (TPP) agreement, Cuisia said the government would be interested to know about the requirements in its possible participation to the deal.

“We are looking at possible participation in the TPP. I am not saying we’ve made that decision. We are looking into what are the requirements we would have to comply with. There have been initial consultations but no decision has been made whether the Philippines will join or not,” he said.

The TPP, currently being negotiated by the US and 11 other Pacific countries, seeks to set high standards covering intellectual property, labor rights and environmental protection.

The deal intends to create a free trade bloc which would represent more than half of global output and over 40 percent of world trade.

Obama will be visiting the Philippines at a time when the country is facing an arbitration case against China on territorial claims over the West Philippine Sea.

The Philippines filed an arbitration case against China before the United Nations (UN) in January last year.

The Philippine government submitted its 4,000-page memorial or written argument to the UN arbitral tribunal hearing the case late last month.

The US government has earlier expressed support in the Philippines’ move to pursue peaceful resolution of the matter.

Aside from the Philippines, Obama will be visiting South Korea, Japan and Malaysia this month.

Obama was supposed to visit the country in October last year but the trip was cancelled due to the US government shutdown after Congress’ failure to reach an agreement on the national budget.