Kalayaan Hall, Malacañang
March 11, 2024

President Ferdinand R. Marcos Jr. raised a toast to a stronger partnership between the Philippines and United States of America (USA), as he hosted a luncheon in Malacañang for U.S. Secretary of Commerce Gina Raimondo and members of the delegation of the Presidential Trade and Investment Mission (PTIM) visiting Manila, Philippines.

In his welcoming remarks, President Marcos Jr. conveyed that the U.S. Mission’s presence in the Philippines not only signifies a meeting of officials but also celebrates the enduring relations between the two nations. He recalled that the announcement of the intent to dispatch the PTIM was made at the White House last year. As it comes to fruition this year, it presents the opportunity to highlight the positive economic strides made between the two countries and showcase the diverse investment opportunities in the Philippines.

“Our growth prospects are promising, driven by decisive policy measures, a robust external position, anticipated key tax reforms, and significant foreign investments, notably from the United States, a longstanding top source of foreign direct investments,” the Chief Executive stated, emphasizing that the Philippines is poised to build upon its strong economic performance in 2023 despite global challenges and other issues confronting the nation.

He also shared the country’s anticipated hosting of the 6th Indo-Pacific Business Forum on 21 May 2024, in collaboration with the U.S. Department of State and the United States Trade and Development Agency (USTDA). This event promises to be pivotal in fostering connections and partnerships among businesses, governments and civil society.

“To Secretary Gina Raimondo and the entire U.S. Presidential Trade and Investment Mission: May your engagements in the Philippines during this visit yield outcomes of greater synergy for the mutual economic progress of both nations and further strengthen our partnership across all areas,” he said, proposing a toast to the U.S. Secretary and PTIM delegation.

President Marcos Jr. also called on his colleagues in the government, as well the private sector, to remain steadfast in their commitment to elevate the Philippines and continue driving growth in the country to provide a better life for every Filipino.

In response, Secretary Raimondo conveyed U.S. President Joseph Biden’s heartfelt message regarding the continuing relationship between the USA and the Philippines. “We have unbelievable opportunity before us… We have an opportunity before us to strengthen this partnership, to take it to higher levels, to deepen it to unprecedented depths. So together, let’s seize this opportunity, let’s commit ourselves to our joint economic and national security, and to what lies ahead, which is the best to come,” she expressed as she raises a toast to President Marcos Jr. and the Filipino people.

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