NATIONAL
Advocates Philippines
Marcos Urges Resumption Of PH-EU Free Trade Agreement
During the Joint EU-ASEAN Business Council and European Chamber of Commerce of the Philippines Gala Dinner in Makati City on Thursday, Pres. Ferdinand "Bongbong" R. Marcos Jr. engaged in a conversation with Speaker Ferdinand Martin G. Romualdez. Also present were Jens Ruebbert, the incoming Chairman of EU-ASEAN Business Council, and Luc Véron, the Ambassador Extraordinary and Plenipotentiary of the EU Delegation in Manila. Photo courtesy of Congress PH
President Ferdinand R. Marcos Jr. has called on the EU-ASEAN Business Council (EU-ABC) and the European Chamber of Commerce in the Philippines (ECCP) to support the revival of negotiations for a bilateral Philippine-EU Free Trade Agreement (FTA).
Addressing attendees at the EU-ABC Annual General Meeting Gala Dinner in Makati City on Thursday, Marcos emphasized the conducive business environment his administration has fostered to attract more investors to the Philippines.
"I believe that we can all agree that the timing and conditions are now quite ripe for us to solidify the long-standing and historically beneficial trade relations: through a bilateral Philippine-EU Free Trade Agreement,” Marcos said.
He stressed that a bilateral FTA will be a win-win strategy for both the Philippines and the EU.
He said that a Philippine-EU FTA would align with the EU's commitment to sustainable development, environmental protection, and its strategy for Indo-Pacific cooperation.
Recognizing the EU-ABC and ECCP as influential representatives of the European business community in the region, he expressed confidence that they can facilitate progress and achieve a positive outcome for the initiative.
Marcos further emphasized that a bilateral FTA with the EU would serve as a significant milestone in strengthening the long-standing relationship between the Philippines and the EU.
The Marcos administration's transformative plan for the country aims to establish an enabling environment that facilitates the achievement of socio-economic goals.
The government intends to broaden liberalized businesses and sectors, including public services, retail trade, and renewables to enhance the country's attractiveness as a trade and investment destination.
Additionally, efforts will be made to create a business-friendly corporate taxation system, with lower tax rates and improved mechanisms for tax incentives.
The government also plans to establish express or "green" lanes to streamline permitting and approval processes, removing unnecessary barriers and redundancies.
Marcos highlighted that these measures would not only bolster the country's potential but also contribute to a stronger and more productive relationship with the EU. Furthermore, the enabling environment would ensure the Philippines' compliance with essential international obligations as determined by the EU and maintain its participation in the Generalized System of Preferences Plus (GSP+) scheme.
Addressing attendees at the EU-ABC Annual General Meeting Gala Dinner in Makati City on Thursday, Marcos emphasized the conducive business environment his administration has fostered to attract more investors to the Philippines.
"I believe that we can all agree that the timing and conditions are now quite ripe for us to solidify the long-standing and historically beneficial trade relations: through a bilateral Philippine-EU Free Trade Agreement,” Marcos said.
He stressed that a bilateral FTA will be a win-win strategy for both the Philippines and the EU.
He said that a Philippine-EU FTA would align with the EU's commitment to sustainable development, environmental protection, and its strategy for Indo-Pacific cooperation.
Recognizing the EU-ABC and ECCP as influential representatives of the European business community in the region, he expressed confidence that they can facilitate progress and achieve a positive outcome for the initiative.
Marcos further emphasized that a bilateral FTA with the EU would serve as a significant milestone in strengthening the long-standing relationship between the Philippines and the EU.
The Marcos administration's transformative plan for the country aims to establish an enabling environment that facilitates the achievement of socio-economic goals.
The government intends to broaden liberalized businesses and sectors, including public services, retail trade, and renewables to enhance the country's attractiveness as a trade and investment destination.
Additionally, efforts will be made to create a business-friendly corporate taxation system, with lower tax rates and improved mechanisms for tax incentives.
The government also plans to establish express or "green" lanes to streamline permitting and approval processes, removing unnecessary barriers and redundancies.
Marcos highlighted that these measures would not only bolster the country's potential but also contribute to a stronger and more productive relationship with the EU. Furthermore, the enabling environment would ensure the Philippines' compliance with essential international obligations as determined by the EU and maintain its participation in the Generalized System of Preferences Plus (GSP+) scheme.
May 26, 2023
