No major changes in PH-US business relations under Biden – PCCI

Businesses in the Philippines do no see major changes in the business relations between the Philippines and the United States after was elected as America’s new president.

“I don’t think it matters a lot for the Philippines, whether it’s Trump or Biden, who will be the next US President.  It’s more about how the Philippines would like to manage its relationship with the US going forward that will matter,” said Amb. Benedicto Yujuico, president of the country’s largest business organization, the Philippine Chamber of Commerce and Industry (PCCI).

Yujuico said past US administrations have supported ASEAN countries more than the Philippines. He cited the “Indo Pacific Summit” held in Hanoi, highlighting US private and public sector support of major projects in Vietnam.

“The Philippines should continue to expand trade and investment in our region as well as open up new relationships and markets in the East.  For now, the US has its own priorities, which seems not to include the Philippines, so we have to find new friends and opportunities elsewhere,” said Yujuico.

The PCCI business leader said he would be meeting with US Embassy officials today “to keep the door open.”

No major changes in PH-US business relations under Biden – PCCI

President of the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) Dan Lachica also said, “I don’t see major changes in 2021 as we still grapple with COVID.”

However, he notes that Biden is essentially an extension of Barack Obama. He expects a revival of the Democrat initiatives, including Climate change, WHO participation, and strengthening ties with allies, which “should be good.”

Meanwhile, the Management Association of the Philippines (MAP) was hopeful of Joe Biden’s administration.

“The United States has been a very important ally and economic partner of the Philippines. There are an estimated 4 million Filipinos living in the United States. We are glad that America has a President-elect after a contentious political campaign and nail-biting electoral count,” said MAP President Francis Lim.

“We are emboldened by the victory speech of President-elect Joe Biden. We  nurture the hope that he will lead America with steady hands in this difficult time given the enormous challenges, like reviving the virus economy, healing the divide in the nation and across nations, protecting  democratic ideals around the world, addressing the imperatives of the environment and social inequality, and strengthening global cooperation,  peace, and stability.”