A CROSSROAD IN OUR TRADE RELATIONSHIP

Opening Remarks of Ambassador Ricciardone at the
Trade and Investment Council Videoconference
May 8, 2003

It’s a pleasure to open this meeting of the U.S.-Philippines Trade and Investment Council--the TIC--the first such meeting to he held via videoconference.

Much like the high technology we are using to make this meeting possible, the TIC allows us to shuttle ideas back and forth across time zones, allowing for real time answers and solutions to our trade differences.

Since its resurrection last year, the TIC has become an important cornerstone in our bilateral relationship. It is an opportunity to freely and candidly share and resolve our trade and investment differences in a way that only true friends and partners can do. And partners we are: with more than 17 billion dollars in bilateral trade and more than a million of our citizens crossing between our two borders yearly. We place importance on the TIC. We had two meetings last year, including, most recently, a meeting between USTR Ambassador Zoellick and DTI Secretary Roxas in Manila last November.

The meeting today has particular importance since it is preceding the State Visit of President Gloria Macapagal-Arroyo to Washington, only the third State Visit that President Bush will have hosted since assuming office. The visit shows the importance this American Administration gives to the U.S.-Philippine partnership. So the issues that we discuss today can be the foundation for further discussion during the State Visit.

As the past two meetings have shown, this TIC dialogue aims to produce results. And on issues ranging from biotechnology to customs reform, we have already seen some results, and opportunities for trade and investment between our two countries have expanded. However, more work needs to be done. As important as discussion is, dialogue on these issues should continue to be followed by action. We hope to see results with regards to IPR protection, tax reform, and investment climate. I know the Philippine side would also like to achieve results on their agenda.

On many of the issues that we discuss, our legislatures have important responsibilities. In these areas, we should provide our recommendations in clear and persuasive terms.

We are now coming to a crossroad in our trade relationship where tough decisions need to be made. We must be willing to dismantle the remaining barriers to free trade -- from tariffs to the red tape of bureaucracy -- in order for our citizens to reap the rewards of efficiency and competition. As much as we would like for the resolution of many of these issues to occur within a multilateral setting, we can move even faster, as two partners, to forge bilateral agreements that provide these benefits.

And so, with the help of this video technology and the determination of the people seated around this table, we look forward to making this meeting today a success and to further strengthening the economic partnership between the United States and the Philippines.

Thank you.