The Philippines was a vital trading center for the Spanish from 1521 until 1898, after which it became an American colony. The Philippines became independent in 1946, and is the third largest English-speaking country in the world.

The country's economy has showed resiliency amidst the Asian financial crisis, and is boosted mainly by its export-oriented manufacturing sector, particularly in electronics and automotive parts. The creation of export processing zones, including the former United States bases in Subic and Clark, has facilitated a rise in foreign direct investment. The Philippines has pursued a policy of economic liberalization in the past decade, which has resulted in the liberalization of its retail trade, telecommunications, banking, mining, oil sector, and more recently its power sector.

The Philippine government is currently implementing reforms to strengthen its economy.
It has recently enacted the Optical Media Act that strengthens intellectual property rights protection, and has advanced the government-wide use of the e-procurement system to promote transparency in government purchases. It has strengthened its regulations in the banking sector, and is undergoing fiscal consolidation through the strengthening of the tax base and tightening of spending, in line with its Medium-Term Development Plan.

For more information on our Philippines affairs, please contact:
Marc Mealy
Senior Director, Brunei, Malaysia, and Philippines Affairs
Coordinator, Financial Services Working Group
mmealy@usasean.org

In addition to our work through our Washington, DC headquarters, the Council also maintains a strong presence in Manila. For assistance, please contact:
Evelyn Mariano
Representative, Manila Office
emariano@usasean.org

September 3-5: Philippine Business Mission. Philippines. Contact: Marc Mealy at mmealy@usasean.org

more upcoming events

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

more headline news

Reception
with The Honorable Angelo Reyes
Philippines' Secretary of Energy

Washington, DC, March 6, 2008

Secretary of Energy of the Philippines Hon. Angelo T. Reyes (above, left) joined US-ASEAN Business Council members for a cocktail reception on May 6, 2008 in Washington, DC. Secretary Reyes visited Washington, D.C. with an interest in talking with Council members about renewable energies, oil and natural gas developments including the offering of new exploration blocks in the Philippines, biofuels, maritime security and more. Sponsoring the reception were the AES Corporation, Chevron and the Coca-Cola Company.

- - - - - - - - - - - - - - - - - - - -

Breakfast Dialogue
with The Honorable Arthur Yap
Philippines' Secretary of Agriculture

Washington, DC, March 3, 2008

The US-ASEAN Business Council was honored to host a breakfast dialogue in honor of The Honorable Arthur Yap (above, 5th from right), Philippines' Secretary of Agriculture. The breakfast was made possible by the generous support of Council members Cargill, Inc and Yum! Restaurants International. Secretary Yap was visiting Washington DC to attend the 2008 WIREC Conference and individual meetings with USG officials. The dialogue offered an opportunity for members to discuss agribusiness/agriculture trends and policies in the Philippines, including some of the priority objectives for Department of Agriculture in 2008 involving biofuels and tropical products.

- - - - - - - - - - - - - - - - - - - -

2007 Business Mission to the Philippines

October 16-19, 2007

The US-ASEAN Business Council wrapped up its US Executives Business Mission to the Philippines with a dinner hosted by President Gloria Macapagal-Arroyo at the Malacanang Palace (top picture). During the three day business mission, the delegation met with Senior Cabinet officials, including Atty. Adrian Cristobal (bottom picture, center), Director General of IPR and Eduardo Manzano (second from right), Chairman of the Optical Media Board. The mission was co-lead by Council's President Matthew Daley, and Chair of our bilateral US-Philippines Business Council, Mr. Kandy Anand, President of the Coca Cola Company, Philippines Business Unit.

For a press release of the mission, click here. For more information please contact Evelyn Mariano at emariano@usasean.org.

- - - - - - - - - - - - - - - - - - - -

US-Philippines Business Council's
Chair:

Kandy Anand,
The Coca-Cola Company

- - - - - - - - - - - - - - - - - - - - - - - - - - - -

GDP: $298.9 billion (2007 est.)
GDP Growth Rate: 7.3% (2007 est.)

Currency Rate

- - - - - - - - - - - - - - - - - - - - - - - - - - - -

H.E. Willy C. Gaa
Ambassador of the Philippines to the United States

The Honorable Kristie Kenney
United States Ambassador to the Philippines