A senior US official said the United States is expected to reach a deal on the long-term framework for an economic security zone with the Philippines sooner rather than later. Both countries have a two-year window to work out the arrangements under a pact they signed last month.
The United States is expected to reach a deal on the long-term framework for an economic security zone with the Philippines sooner rather than later, a senior US official said on Thursday.
Both countries have a two-year window to work out the arrangements under a pact they signed last month. Both parties will also set sectoral industrial priorities for the kinds of economic activities in the zone. The alliance has since grown rapidly to 15 members from seven founding members last September, and the US undersecretary of state for economic affairs expects the United States and the Philippines to reach a deal sooner rather than later.
The Philippines has not agreed to the request seeking diplomatic immunity for the zone. A senior US official visited a proposed 4,000-acre site in New Clark City north of Manila on Monday, joined by representatives of more than a dozen US companies. The official talked to the Singaporeans and a number of others on opportunities in minerals and logistics at the ATX summit in Singapore
US-Philippines Economic Security Zone Deal Expected Soon Framework Agreement Two-Year Window Pact Signed Last Month Sectoral Industrial Priorities Critical Minerals Advanced Manufacturing Computing And Data Infrastructure Pax Silica Programme Diplomatic Immunity Request New Clark City ATX Summit Singaporeans Opportunities In Minerals And Logistics
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