PH supports negotiations to have FTA with EU
PH supports negotiations to have FTA with EU
Category
🗞
NewsTranscript
00:00 The Marcos administration wants to enter into various deals with international partners that will help improve our
00:06 Economic standing and that is why the government is eyeing a free trade agreement with the European Union or EU
00:13 Rod Laguzan supplies us the details
00:16 The Philippine government supports negotiations in having a free trade agreement with the European Union in a speech delivered by executive
00:25 Secretary Lucas Bersamin in the joint European Chamber of Commerce of the Philippines and EU ASEAN Business Council European investors night
00:33 President Ferdinand Marcos jr. Stressed that it will help the country in securing duty-free market access
00:38 The president said that it will not just help in luring investments from the EU
00:42 But also strengthen its economic ties with this powerful trading block currently
00:47 There is EU's generalized scheme of preferences plus or GSP plus which offers trade preferences to developing countries
00:53 Which are vital to the country. This arrangement is set to expire in
00:57 2027 we see the FTA as a crucial step in enhancing the trade partnership between the Philippines and the EU
01:05 We look forward to negotiations
01:09 being finalized by
01:11 2027 and to elevating trade and investment flows through a
01:17 comprehensive agreement that includes
01:20 advanced provisions for digital
01:23 trade and intellectual property rights
01:26 Bersamin emphasized the commitment of both countries in forging an agreement that will further help trade between the two
01:33 We are optimistic that the FTA will unlock new opportunities
01:39 significantly increasing market access for Philippine goods and services
01:45 This agreement will facilitate the flow of investments
01:51 technology and expertise
01:53 bringing mutual benefits to both sides
01:57 He stressed that this is more than an agreement as it serves as a symbol of collaboration
02:01 And when it comes to benefits that the FTA will bring it is projected that there will be around 6 billion euros
02:08 Increase in trade the Philippines also welcomes continued investments in different sectors such as renewable energy projects and electronics manufacturing
02:17 Rod Lagusan from The National TV for a new and better Philippines.