23-9-2023 (WASHINGTON) Philippines Foreign Secretary Enrique Manalo expressed the Philippines’ keenness to strengthen economic collaboration with the United States, particularly in the areas of critical minerals and the production of battery components. Manalo, who was attending the annual UN General Assembly in New York, made these remarks during an event organized by the Asia Society. He emphasized the need for economic cooperation to align with the existing defense-related activities between the two nations.
Highlighting the significance of critical minerals, Manalo stated the Philippines’ intention to enhance cooperation in this sector. He expressed the desire to attract more mining companies to the Philippines and promote the local production of battery components. Rather than exporting minerals to other countries, the Philippines aims to develop its manufacturing capabilities by utilizing its own mineral resources.
Manalo further revealed that the Philippines anticipates a visit from the first-ever US presidential trade and investment mission early next year, coinciding with the country’s hosting of the Indo-Pacific Business Forum. This visit is expected to facilitate public-private partnerships and generate significant projects in priority areas.
Drawing inspiration from the critical minerals agreement between the United States and Japan in March, Manalo stated that the Philippines is highly interested in a similar arrangement. The country recognizes the underdeveloped state of its mining sector and plans to bolster support for the local industry through increased exploration activities. These initiatives will aid in identifying additional areas rich in critical minerals such as nickel and chromium.
