Philippines, four European countries eye trade pact

EFTA countries
EFTA countries (in red)

The Philippines and four countries in Europe that are not part of the European Union, but the European Free Trade Association (EFTA) are eyeing a free trade deal, the Philippine Department of Trade and Industry (DTI) said.

According to Trade Undersecretary Adrian S. Cristobal Jr., the Philippines and EFTA, composed of Iceland, Liechtenstein, Norway and Switzerland, would start by November 2013 to undertake studies as well as technical discussions for a free trade agreement.

Cristobal said the EFTA member countries first expressed interest to pursue a free trade deal with the Philippines on the sidelines of the World Trade Organization’s ministerial meeting in 2011. The visit to the Philippines of Swiss State secretary for economic affairs Marie-Gabrielle Ineichen-Fleisch in June 2013 was a follow-up on the interest in a Philippine-EFTA trade agreement, Cristobal said.

The four EFTA countries are seen as an emerging source of foreign direct investment.

“We’re studying closely the potential advantages,” Cristobal said, adding that the Philippine-EFTA trade agreement may “move faster” than the ongoing discussions for an FTA with the EU.

EFTA is also currently engaged in negotiations on free trade agreements with other ASEAN members such as Indonesia, Malaysia, Thailand and Vietnam. EFTA already has an existing FTA with Singapore. The group is engaged in 26 FTAs involving 36 trading partners.



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[caption id="attachment_16018" align="alignleft" width="300"] EFTA countries (in red)[/caption] The Philippines and four countries in Europe that are not part of the European Union, but the European Free Trade Association (EFTA) are eyeing a free trade deal, the Philippine Department of Trade and Industry (DTI) said. According to Trade Undersecretary Adrian S. Cristobal Jr., the Philippines and EFTA, composed of Iceland, Liechtenstein, Norway and Switzerland, would start by November 2013 to undertake studies as well as technical discussions for a free trade agreement. Cristobal said the EFTA member countries first expressed interest to pursue a free trade deal with the Philippines on...

EFTA countries
EFTA countries (in red)

The Philippines and four countries in Europe that are not part of the European Union, but the European Free Trade Association (EFTA) are eyeing a free trade deal, the Philippine Department of Trade and Industry (DTI) said.

According to Trade Undersecretary Adrian S. Cristobal Jr., the Philippines and EFTA, composed of Iceland, Liechtenstein, Norway and Switzerland, would start by November 2013 to undertake studies as well as technical discussions for a free trade agreement.

Cristobal said the EFTA member countries first expressed interest to pursue a free trade deal with the Philippines on the sidelines of the World Trade Organization’s ministerial meeting in 2011. The visit to the Philippines of Swiss State secretary for economic affairs Marie-Gabrielle Ineichen-Fleisch in June 2013 was a follow-up on the interest in a Philippine-EFTA trade agreement, Cristobal said.

The four EFTA countries are seen as an emerging source of foreign direct investment.

“We’re studying closely the potential advantages,” Cristobal said, adding that the Philippine-EFTA trade agreement may “move faster” than the ongoing discussions for an FTA with the EU.

EFTA is also currently engaged in negotiations on free trade agreements with other ASEAN members such as Indonesia, Malaysia, Thailand and Vietnam. EFTA already has an existing FTA with Singapore. The group is engaged in 26 FTAs involving 36 trading partners.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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