Remarks by Under Secretary Marisa Lago to the Press in Manila, Philippines

Manila, Philippines

November 13, 2024

As Prepared for Delivery

Good afternoon, everyone. I'm so pleased to be in Manila, leading the U.S. Department of Commerce's first-ever trade mission focused on smart cities, which is first in the Philippines and then Indonesia.

This trade mission follows in the footsteps of the Presidential Trade and Investment Mission that U.S. Secretary of Commerce Gina Raimondo led this past March. As some of you may recall, the U.S. companies participating in that mission announced over $1 billion in investments in the Philippines.

And, with this week's smart cities trade mission, the Philippines becomes the only country in the world where the U.S. Department of Commerce has brought two high-level trade mission in 2024!

Before diving into the details of this week's trade mission, I'll share a few words about the incredibly strong - and growing - commercial relationship between the United States and the Philippines. We truly are "partners in prosperity". The United States is the Philippines' largest export market. Two-way trade reached over $22 billion last year. U.S. companies are among the Philippines' largest investors, private employers and taxpayers. And, these companies have been present for decades - in some cases, for over a century. U.S. investments have generated millions of well-paying jobs for Filipinos, supporting families across the archipelago. In fact, the largest private employer in the Philippines is a U.S. company that employs over 100,000 people.

Across the Philippine economy, U.S. companies have helped grow key sectors - such as the digital economy, semiconductors and tourism. These companies represent the gold standard for foreign investment, upholding high labor and environmental standards, world-class training, and strong corporate social responsibility programs. And, U.S. business leaders are bullish about even more trade and investment opportunities in the Philippines.

That's why I'm here this week, leading an impressive delegation of 12 cutting-edge U.S. companies that offer innovative technologies and solutions to help develop sustainable urban infrastructure across the Philippines. These companies represent a broad swath of sectors: cybersecurity, artificial intelligence, biometrics, engineering and construction, and rail. Some of these companies already have a presence in the Philippines and are looking to expand. Others are exploring opportunities in this dynamic market for the first time.

Already, the trade mission has had a robust schedule of engagements. We held a roundtable discussion on the vast potential of Philippine smart cities with high-ranking officials from numerous government agencies, including Department of Information and Communications Technology Undersecretaries Mercado and Almirol. We met with Mayors and City Administrators from localities across the country. And, our participating companies have engaged in numerous matchmaking events with prospective Philippine business partners.

I'm thrilled that one of the trade mission companies, UltraPass ID, will be signing a Memorandum of Agreement with the Philippine Department of Transportation. This agreement will pilot UltraPass's biometric verification technology to streamline passenger processing and improve security across Philippine airports.

Special thanks to Secretary of Transportation Jaime Bautista for being here today to sign this agreement. It's a prime example of the groundbreaking partnerships that U.S. companies can cultivate through this trade mission.

With that, I'm delighted to welcome UltraPass's Chief Executive Officer, Eric Starr, who will share more about the company and the agreement that we are celebrating today. Thank you.