US Trade Representative Susan C. Schwab met with Philippines Secretary of Trade and Industry Peter Favila to sign a Memorandum of Understanding (MOU) to Cooperate on Stopping Illegal Transshipments of Textiles and Apparel through the Philippines to the US.
"This MOU will help safeguard and promote legitimate textile trade between our two countries, while stopping illegal textile transshipments" said Ambassador Schwab. " The agreement demonstrates how the US and the Philippines are committed to working together to strengthen our trading relationship."
The MOU provides for customs cooperation, identification of the actual textiles and apparel manufacturers and joint verification visits to provide our governments with the information necessary to stop textiles and apparel transshipments.
The conclusion of this important MOU represents the latest achievement in ongoing work under the bilateral US-Philippines Trade and Investment Framework Agreement, which seeks to strengthen the longstanding, close ties between the US and the Philippines and to enhance two-way trade that currently stands at $16 billion and has been growing annually at between seven and eight percent in recent years.
Before signing the MOU, Ambassador Schwab and Secretary Favila also discussed issues on the US–Philippines bilateral trade agenda, including the enforcement of intellectual property rights (IPR), promoting and protect foreign direct investment, and reviving the WTO Doha Round.
Ambassadors Schwab is traveling to Asia to attend the Association of Southeast Asian Nations (ASEAN) Economic Ministers meetings and conduct bilateral discussions with trade minister counterparts about expanding global market access opportunities through revived WTO Doha round negotiations as well as bilateral trade issues.
United States Trade Representative
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