The Philippines remains hopeful of signing the master agreement for the proposed Pax Silica advanced manufacturing hub before yearend, with negotiations progressing and no major substantive issues threatening a deal, Trade Undersecretary Ceferino Rodolfo said.
Rodolfo said the absence of a signing during the ASEAN Summit in Manila would not necessarily affect the project’s development timetable, as discussions with the US continue.
“So far we’re hopeful because of the pace of the discussions and that there is really no significant substantive issue that would prevent us from signing,” he said.
His remarks followed a US statement that the agreement would not be signed during the summit, which US President Donald Trump is expected to attend.
Rodolfo said talks with the US Department of State remained encouraging, with both sides sharing a common vision for the proposed hub. However, the master agreement, which will establish the framework for the project, remains under negotiation.
He said a separate signing ceremony would give the initiative the attention warranted by its potential economic significance, rather than attaching it to the summit’s crowded diplomatic agenda.
“Precisely because it’s a significant transformative project … we do not need to piggyback it with another important event,” he said.
Rodolfo also rejected suggestions that stakeholder concerns had held up negotiations, saying consultations and communication with affected parties had been integral to the process and were continuing.
Signing the agreement this year would preserve the proposed two-year development period, which includes preparation of the hub’s master plan, he said.
The Bases Conversion and Development Authority (BCDA) will sign the agreement, although the venue and occasion have yet to be finalized.
The timeline remains contingent on the successful conclusion of negotiations and formal signing of the agreement.
