Washington—US President Joe Biden said he will send a “first of its kind” presidential trade and investment mission to the Philippines as he and President Ferdinand Marcos Jr. expanded their countries’ agricultural, trade, and even nuclear ties follow--
President Marcos introduces Speaker Martin Romualdez who accompanied him during the bilateral meeting with President Biden that was followed by an expanded dialog with Cabinet officials of both leaders.
Mr. Marcos, in turn, thanked the US leader for America’s assistance as he sought to strengthen “alliances and partnership in the face of the new economy that we are facing post-pandemic.” “We have found a wellspring of new hope for the Filipino people as President Biden and President Marcos Jr. discuss plans for a brighter future together. With a first-ever presidential trade and investment mission on the horizon, the Philippines can expect job creation and economic growth,” said the Speaker, who personally witnessed the historic meeting at the White House.
Mr. Marcos also gained a sizable investment from the top nuclear energy firm based in the United States, which expressed interest to invest in the Philippines after their roundtable meeting. In the meeting, Oregon-based NuScale Power Corp. revealed its plans to locate a site in the Philippines, as the firm is known for developing a small nuclear power system described as safe, modular, and scalable.
The President also witnessed the signing of a memorandum of agreement between Integrated Micro-Electronics Inc. of the Ayala Group and California-based Zero Motorcycles on a partnership to manufacture electric motorcycles, which are gaining popularity worldwide. “This high-level trade and investment mission from the US will add more momentum to sustain our country’s economic growth and help establish the Philippines as a hub for investments and as a regional supply chain hub,” the Speaker added.
Philippine Cabinet officials and their US counterparts also met with Mr. Marcos and Mr. Biden in an expanded bilateral meeting at the White House. Mr. Marcos noted the “weaknesses that we had discovered during the lockdowns during the pandemic, at the height of the pandemic, and the shortages in food supply.”
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