German-PH Chamber lauds resumption of EU-Philippines free trade talks

The German-Philippine Chamber of Commerce and Industry Inc. (GPCCI) on Tuesday lauded the resumption of free trade agreement (FTA) negotiations between the European Union and the Philippines.

“We are encouraged by the recent developments surrounding the resumption of the EU-PH Free Trade Agreement (FTA), particularly highlighted by President Marcos's remarkably successful visit to Germany last week—a visit that included a business forum we had the honor of co-organizing,” GPCCI president Stefan Schmitz said in a statement.

At a press conference in Belgium, EU trade commissioner Valdis Dombrovskis and Trade Secretary Alfredo Pascual announced the resumption of FTA negotiations between the country and the trading bloc with the first round of talks scheduled “later this year.” 

In July last year, Pascual said that FTA talks between the Philippines and EU would commence “by way of scoping.”

To recall, European Commission President Ursula von der Leyen had announced that the EU and the Philippines were relaunching negotiations for an FTA as both parties were working on setting the "right conditions."

The exploratory FTA talks between the Philippines and the EU began in 2013, while the launching of negotiations was announced in December 2015.

The first FTA negotiations were held in Brussels, Belgium in 2016, followed by a second round of negotiations in Cebu, Philippines in 2017. The FTA talks have been idle since. 

For Schmitz, a potential FTA between the EU and the Philippines “presents a significant opportunity to further enhance the interests of German businesses, as demonstrated by their keen enthusiasm observed during the business forum.”

The GPCCI chief said the group “wishes to amplify the insights from the German-Philippine business community regarding the critical role of the EU-PH FTA.”

“According to the AHK World Business Outlook Survey for Fall 2023, around 70% of respondents acknowledged the FTA's vital contribution to the success of their business operations,” Schmitz said.

“GPCCI remains supportive of initiatives that promote a thriving business environment between Germany and the Philippines and are optimistic about the future of EU-PH trade relations,” he said.—AOL, GMA Integrated News