Philippines, US promote trade, investment cooperation

US Secretary of Commerce Gina Raimondo (Photo: AFP/VNA)

Hanoi (VNA) – The alliance between the Philippines and the US is very solid and many US businesses want to invest in the Southeast Asian country, US Secretary of Commerce Gina Raimondo said on March 11 during her two-day official visit to the Philippines.

Speaking at a joint press conference with the host country’s officials, Raimondo emphasised the US-Philippine "ironclad" alliance is iron clad, which has been sustained over 72 years, and they remain steadfast friends and increasingly important partners.

On this occasion, Raimondo said that US companies plan to announce a total investment of more than 1 billion USD in many fields in the Philippines, such as solar energy, electric vehicles and digital.

The US trade and investment delegation led by Raimondo visited the Philippines for two days from March 11. This delegation includes top leaders of about 22 American companies including GreenFire Energy, Google Asia Pacific, Visa, United Airlines and KKR.

In an interview with the press before the visit, Raimondo emphasised that Washington wants to deepen its economic commitments in the Indo-Pacific, one of the fastest growing and most dynamic economies in the world.

Raimondo said her trip aims to strengthen economic and trade relations in this region.

After the visit to the Philippines, Raimondo planned a two-day visit to Thailand which will focus on ensuring sustainable supply chains, manufacturing activities, artificial intelligence and clean energy. She will attend the meeting of ministers in Bangkok under the Indo-Pacific Economic Framework for Prosperity (IPEF)./.