President Ferdinand ''Bongbong'' Marcos Jr. highlighted the pivotal role of Germany's support as negotiations for a free trade agreement between the Philippines and the European Union prepare to resume.
''Germany’s support is vital to the country’s reapplication to the EU’s Generalised Scheme of Preferences Plus (GSP+) and for the resumption of negotiations for a PH-EU Free Trade Agreement (FTA),'' Marcos stated during the Philippine-German Business Forum in Berlin.
''These are aspects we aim to echo during the 2nd Session of the Philippines-Germany Joint Economic Commission (JEC) scheduled for March 27 this year, an event we will be hosting in Manila,'' the President added.
The Philippines anticipates the commencement of formal negotiations for a free trade agreement with the European Union "very soon," according to Foreign Affairs Secretary Enrique Manalo earlier this month.
With heavy reliance on trade with China, the Southeast Asian nation seeks to broaden its economic ties with other countries to enhance resilience.
Previously, the Philippines engaged in preliminary discussions regarding a free trade deal with the 27-nation bloc for several months. However, previous attempts nearly a decade ago faced obstacles amid EU concerns regarding the drug campaign of then President Rodrigo Duterte.
Marcos emphasized Germany's significance as one of the countries where the Philippines aims to strengthen business partnerships and collaborations.
''The Philippines and Germany share aspirations for de-risked and diversified production and market value chains, safeguarding our economies against geopolitical uncertainties,'' Marcos remarked.
''Our mutual dedication to democracy and a rules-based global order lays a solid groundwork for a sustainable partnership in trade and investment,'' he added.
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