On the Fourth of July, which is both U.S. Independence Day and Philippine-American Friendship Day, the partnership between the two countries has achieved significant milestones over the past year. The Trilateral Leaders’ Summit, held in Washington, D.C., between President Biden, President Marcos, and Japanese Prime Minister Kishida, marked a historic moment. The leaders committed to advancing the security and prosperity of all three nations, as well as the Indo-Pacific region and the world, through cooperation on various areas including economic growth, critical technologies, the digital economy, climate and clean energy, infrastructure, and peace and security. As part of this commitment, they announced the Luzon Economic Corridor under the Partnership for Global Infrastructure and Investment, as well as the Indo-Pacific Economic Framework (IPEF) Investment Accelerator. Additionally, they announced $8 million for Open Radio Access Network (RAN) field trials [6cefae85].
In March, Secretary of Commerce Raimondo led the first-ever Presidential Trade and Investment Mission to the Philippines, during which U.S. firms announced over $1 billion in investments in key sectors. The U.S. Trade and Development Agency awarded a grant to a Filipino company to provide affordable and high-quality internet connectivity to underserved communities in the Philippines. Furthermore, the U.S. Development Finance Corporation (DFC) plans to open an office in Manila later this year. The Millennium Challenge Corporation has also returned to the Philippines and is currently working on co-developing a threshold program. Additionally, the United States and the Philippines signed a civil nuclear cooperation agreement to facilitate collaboration on nuclear energy. USAID partnered with the Philippine government to launch the Green Energy Auction Program, aimed at promoting sustainable energy solutions. The military alliance between the U.S. and the Philippines continues to strengthen, with improved bilateral exercises and enhanced cooperation to address security challenges. The U.S.-Philippine relationship is described as being on hyperdrive and has never been stronger [6cefae85].
On the Fourth of July – US Independence Day and Philippine-American Friendship Day – we look back on what the US-Philippine partnership has achieved over the past 12 months. The Trilateral Leaders’ Summit among President Biden, President Marcos, and Japanese Prime Minister Kishida in Washington was a historic moment in a year of exceptional achievements. The leaders committed to advancing the security and prosperity of all three nations, the Indo-Pacific region, and the world through cooperation on economic growth, critical technologies, the digital economy, climate and clean energy, infrastructure, and peace and security. They announced the Luzon Economic Corridor under the Partnership for Global Infrastructure and Investment and the Indo-Pacific Economic Framework (IPEF) Investment Accelerator, which will support transformative public and private investments from Subic Bay to Batangas – home to 40% of the Philippines’ population and 50% of its economic activity. The three leaders also announced $8 million for Open Radio Access Network (RAN) field trials that will pave the way for more affordable and secure telecommunications. In March, Secretary of Commerce Raimondo led the first-ever Presidential Trade and Investment Mission to the Philippines, where US firms announced more than $1 billion in investments in key sectors and new partnerships to help develop a future-ready Philippine workforce. The US Development Finance Corp. (DFC) plans to open a Manila office, its fifth location in the Indo-Pacific region. The Millennium Challenge Corp. returned to the Philippines this year and now has a team on the ground to co-develop a threshold program. The United States is committed to supporting the Philippines’ clean energy transition. USAID partnered with the Philippine government to launch its first Green Energy Auction Program, in which private sector companies compete to offer the most affordable prices to supply renewable energy to the grid, driving billions of dollars in investments and increasing renewable energy capacity by 65% by 2026. The US-Philippine Energy Policy Dialogue was also launched to deepen cooperation in this field. The military alliance between the US and the Philippines continues to flourish, with improved bilateral exercises and established ways to work together to address 21st-century security challenges. The United States continues to expand funding to help modernize the Armed Forces of the Philippines [df44a736].