After the official state visit of US President Obama in the Philippines, the White House released an official statement to summarize the development between US-PH bilateral relation. “The President noted our shared history, shared democratic values, strong people-to-people ties, commitment to peace and stability in the Asia-Pacific region, and commitment to build prosperity for our people and the global economy.”
Aside from assuring support in security, economic cooperation was also discussed in the said visit.
“To further strengthen the United States’ enduring ties to the Asia-Pacific region, U.S. Secretary of Commerce Penny Pritzker will travel to the Philippines in June in conjunction with a delegation of U.S. CEOs. The engagement of our respective private sectors is critical for strengthening our ties and for generating economic growth and high-paying jobs both in the United States and in the region,” as posted in the official website of White House.
Also, “Agreement in principle on the general market access terms, including steps to facilitate trade by the Philippines, which would enable the United States to support special WTO treatment for the Philippines’ rice imports through 2017, “ will be signed by US and PH on June 1.
Moreover, “The United States will continue to support the Philippine government’s medium- to long-term recovery efforts following Typhoon Haiyan, directed at infrastructure and livelihood development, by working hand in hand with the President’s Assistant for Rehabilitation and Recovery and local government units. The United States is providing $140 million towards typhoon recovery.”