OPINION: The Philippines should seek to bond with U.S. on metals – by Makoi Popioco (Nikkei Asia – May 24, 2023)


While access to new bases and expanded military cooperation between the Philippines and the U.S. have grabbed headlines, an important economic component, namely collaboration on the processing of critical minerals and green mining, is emerging as another possible area of partnership.

Although details remain sketchy, potential “friendshoring” in this area by the U.S. could be pivotal to Manila’s efforts to expand its critical minerals sector. It could also provide an opportunity for the U.S. to show how it will operationalize President Joe Biden’s Indo-Pacific Economic Framework, which is widely perceived as lackluster so far.

Friendshoring is at the core of America’s Indo-Pacific strategy as the Biden administration seeks to redirect global supply chains away from China and toward allies to mitigate geopolitical vulnerabilities.

The Philippines has grand ambitions to seize on the global electric vehicle boom with its 9 million hectares of land with high mineral potential. Government estimates suggest less than 5% of its mineral reserves have been extracted so far.

For the rest of this column: https://asia.nikkei.com/Opinion/The-Philippines-should-seek-to-bond-with-U.S.-on-metals