stresses the importance of RCEP and stronger PH-EU trade relations
February 17, 2023
MAKATI CITY –
Department of Trade and Industry (DTI) Secretary Fred Pascual
boasted about the Philippine government’s ongoing efforts to create
an enabling environment where businesses can thrive during the
European Chamber of Commerce of the Philippines (ECCP) Luncheon
Meeting held on 16 February 2023 at the Dusit Thani Manila.
During his keynote speech,
Secretary Pascual unveiled the priorities of the DTI to facilitate
increased trade and investment and to improve global
competitiveness, “The goal is to grow our economy and develop
globally competitive and innovative industries that support
inclusive growth and quality of life for all Filipinos”, he said.
The Trade Chief also took
the opportunity to advocate the ratification of RCEP stating that,
"The drive for immediate ratification of the Regional Comprehensive
Economic Partnership Agreement and other trade agreements is
considered vital to expand the country’s market reach and foster
globally competitive economic industries. The possible influx of
investments that these agreements would bring will also create
employment opportunities for Filipinos." Likewise, President
Ferdinand R. Marcos Jr. earlier emphasized that RCEP would greatly
complement the country's game-changing economic reforms.
Apart from RCEP, Secretary
Pascual urged European businesses to support the Philippines'
re-application for the upcoming renewal of the European Union
Generalised Scheme of Preferences Plus (EU-GSP+). This was also
supported by Assistant Secretary Allan B. Gepty, who was also
present at the Luncheon Meeting and underscored the significant role
of the EU-GSP+ during the open forum, “That is why EU-GSP+ is very
important because it caters to the demands, the needs of our local
stakeholders, and even investors who are exporting to the EU
market”, he said.
Secretary Pascual further
reiterated that “the Philippines counts on European businesses’
continued support for our re-application in the upcoming renewal of
the EU-GSP+ scheme and our advocacy to resume the PH-EU FTA
negotiations. Your business presence here proves that the
Philippines stands on sound economic and social reforms.”
The European Chamber of
Commerce of the Philippines (ECCP) is a bilateral foreign chamber
that promotes European interests in the Philippines and vice versa.
ECCP also organizes business meetings; seminars with resource
speakers from the Philippines, Asia, and Europe, which coordinate
the position of the business sector; as well as dialogues with the
Philippine government officials on important economic issues
affecting the Philippine-European business relations.