In the wake of increasing global interconnectedness, trade facilitation has become the next big focus on both regional and global trade arrangements providing countries with a great opportunity to ensure economic growth and development if taken advantage of. In recognition of this, the Marcos administration has put emphasis on streamlining cumbersome trade procedures and resolving other bottlenecks to ensure easier flow of goods in the country, and has shown bright prospects for the year ahead. In fact, the Philippines ascended from 3rd to 2nd place among Southeast Asian nations in the 2023 UN Global Survey on Digital and Sustainable Trade Facilitation.
Relevant to this, ease of doing business is one key consideration for investors when entering a new market. It is therefore imperative to establish a competitive business environment to create an attractive destination for foreign investment and businesses. Likewise, improvements of regulatory processes is pivotal to ensure the unimpeded and efficient flow of goods, particularly food and health products, as the country continues to grapple with a highly inflationary market.
In light of this, the European Chamber of Commerce of the Philippines (ECCP) invites its members and partners to a luncheon meeting with our keynote speakers from the Food and Drug Administration and Bureau of Customs as they unveil the priorities of their respective agencies to promote trade facilitation and ease of doing business in the Philippines. Likewise, this event will provide a platform for the European-Philippine business community to discuss potential areas for cooperation with the government.