U.S. Secretary of Agriculture Ed Schafer and Philippine Ag Secretary Arthur Yap signed a memorandum of agreement on Tuesday that will promote agricultural trade and investment between the two countries by advancing agricultural cooperation and collaboration.
"The Philippines and the United States share broad economic ties and a profound commitment to democracy," says Schafer. "We are further strengthening our agricultural and strategic partnership through increased cooperation that standardizes food safety regulations, rural development, biotechnology, and product distribution and marketing. We are very pleased to recognize the friendship that continues to grow between our two countries."
The Philippines is a key market in Southeast Asia for U.S. agricultural exports, with sales reaching over $950 million in fiscal year 2007 and is the first Asian country to approve the planting of a biotechnology food crop and remains a consistent supporter of rational, science-based regulations in many international bodies.
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