Marcos: Germany’s support vital to PH-EU free trade talks

BERLIN – President Ferdinand ”Bongbong” Marcos Jr. on Tuesday underscored the significance of Germany’s support when negotiations of a free trade agreement between the Philippines and the European Union resumes.

”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 said during the Philippine-German Business Forum in Berlin.

”These are what we hope to continue to resonate in the conduct of the 2nd Session of the Philippines-Germany Joint Economic Commission (JEC) on 27 March of this year that we will host in Manila,” the President added.

The Philippines hopes to launch formal free trade agreement negotiations with the European Union “very soon,” Foreign Affairs Secretary Enrique Manalo said early this month.

The Southeast Asian nation, which depends heavily on trade with China, wants to expand its economic relations with other countries to achieve greater “resiliency.”

To recall, the Philippines has been in preliminary talks about a free trade deal with the 27-nation bloc for months. A previous effort almost a decade ago stalled amid EU concerns to the bloody drug campaign of then president Rodrigo Duterte.

Meanwhile, Marcos said Germany is certainly one of the countries where the Philippines looks forward to further fostering strong business partnerships and collaborations.

”The Philippines and Germany both have aspirations for de-risked and diversified production and market value chains, which future-proofs our economies from the geo-political vagaries of our times,” Marcos said.

”Our mutual commitment to democracy and a rules-based global order makes for a robust and enduring foundation for a sustainable partnership in trade and investment,” he added.—RF, GMA Integrated News