Manila, Philippines-The Philippine government and the European Chamber of Commerce of the Philippines (ECCP) will presenting business opportunities in the country as well as progress in the proposed free trade agreement (FTA) with the European Union (EU) to visiting members of the European Parliament this week.
A delegation from the European Parliament to be led by Werner Langen, chair of the delegation of the European Parliament for Relations with countries of Southeast Asia and Association of Southeast Asian Nations (ASEAN), is in the country from February 11 to 15 to learn about the positive developments taking place in the country.
The members of the European Parliament are scheduled to meet with Bangko Sentral ng Pilipinas Governor Amando Tetangco, Jr., Trade Secretary Gregory Domingo, as well as representatives of the ECCP.
The members of the European Parliament will likewise visit Mindanao to provide support to the peace process.
According to Domingo, the government would brief the visiting EU delegates of the government’s promotion of inclusive growth as well as available investment opportunities here.
“Since it is a parliamentary delegation, it would be more of a generic country pitch but with emphasis on inclusive growth including tourism, agriculture and infrastructure,” he said.
For his part, ECCP executive vice president Henry Schumacher said that apart from tourism, agriculture and infrastructure, investment opportunities in manufacturing, creative services, and information communication technology will also be presented.
He said the group would bring up in the discussions with the Members of the European Parliament concerns of the European businesses in the country.
“Remaining concerns include slow progress regarding the EU-Philippine FTA,” he said.
He said earlier developments in negotiations for the Philippines-EU FTA have been relatively slow even though the Partnership and Cooperation Agreement, which serves as the precursor to the full-fledge trade deal, was signed last year.
The ECCP is pushing the Philippine government to move forward in starting negotiations for the FTA with the EU so as not be left behind by its peers in Southeast Asia.
Other countries in Southeast Asia such as Singapore, Thailand and Vietnam are expected to sign a similar deal with the EU by 2015.
Some Philippine exporters are facing difficulties in competing in the European market at present and the situation could worsen once other countries in the region conclude negotiations for an FTA with the EU.
Source: The Philippine Star; Business; 13 February 2013
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