Europe-PH News

MANILA, Philippines — The Philippine Chamber of Commerce and Industry (PCCI) and the European Chamber of Commerce of the Philippines (ECCP) have teamed up to promote stronger trade and investment ties and unlock opportunities for businesses from both sides.

PCCI and ECCP aim to undertake joint initiatives, facilitate knowledge exchange, as well as expand opportunities to promote trade, investment and broader economic cooperation.

Both PCCI president Ferdinand Ferrer and ECCP president Paulo Duarte emphasized that their respective groups seek to strengthen their collaboration in the coming months to support the growth of both European and Philippine businesses.

Ferrer and Duarte also expressed optimism on the new opportunities that the partnership would open for businesses to maximize the benefits of the EU–Philippines Generalized Scheme of Preferences Plus (GSP+).

Under the EU GSP+, the Philippines can export 6,274 products to the bloc at zero tariff.

The groups also intend to continue to push for the swift and successful conclusion of the EU–Philippines free trade agreement (FTA) negotiations.

Earlier, Trade Secretary Cristina Roque said she is hopeful that the FTA negotiations with the EU would be concluded by June or July this year.

“In a time where the Philippines continues to be a highly attractive destination for European businesses, organizations such as ours play a vital role in translating potential into tangible outcomes,” Duarte said.

For its part, PCCI emphasized the importance of the partnership in promoting synergies and delivering results.

The PCCI is the country’s biggest business organization composed of small, medium and large enterprises.

ECCP, on the other hand, is the largest foreign chamber in the Philippines.

Source: Philstar.com