The Philippines and the European Commission on Monday committed to strengthen bilateral relations by expanding trade and enhancing cooperation on climate change, maritime security and green economy.
This was announced by President Ferdinand R. Marcos Jr. and EU Commission President Ursula von der Leyen in a joint press statement following a bilateral meeting at the Malacañan Palace.
“During our meeting, we discussed the economic relations with particular focus on revitalizing trade between our two regions,” Marcos said in his speech during the official visit of Von der Leyen.
Marcos said he welcomed the conduct this year of the scoping exercises between the European Commission and the Philippines towards negotiations for a Philippines-EU Free Trade Agreement (FTA).
“On development cooperation, we committed to conclude an agreement on the Green Economy Program in the Philippines, a grant worth 60 million euros, which aims to support the Philippines in areas such as circular economy, renewable energy, and climate change mitigation,” he said.
The President also acknowledged the EU’s strong support for the Bangsamoro Peace Process as well as the development of the Philippines in terms of the rule of law and justice, agriculture, space cooperation and disaster management.
Marcos likewise thanked the EU Commission “for their dedication to extend the recognition of the Standards of Training, Certification, and Watchkeeping for Seafarers certificates issued by the Philippines”.
He said this has a positive impact on the employment of more than 50,000 Filipino seafarers working onboard EU-flagged vessels.
“As I mentioned to Madame President von der Leyen, the Philippines and the EU are like-minded partners through our shared values of democracy, sustainable and inclusive prosperity, the rule of law, peace and stability, and human rights,” Marcos said.
Von der Leyen for her part said the Philippines and EU decided to relaunched negotiations for free trade agreement.
“Our teams will get to work right now on setting the right conditions, so that we can get back to the negotiations. A free trade agreement has huge potential for both of us in terms of growth and in terms of jobs,” she said.
The EU is currently the country’s fourth largest trading partner.
“FTA can be a springboard for a new technology cooperation to modernize the broader economy,” she said.
Aside from these, von der Leyen said the EU will launch this year a digital economy package for the Philippines.
“We will work together on faster reliable connectivity with submarine cables on cybersecurity training and on deployment and development of 5G,” she said.
She also expressed EU’s interest in developing the Philippine mining industry.
“Let us start by identifying projects that we want to develop your local mining industry, supporting your communities and that contributes to a secure global supply of critical raw materials,” von der Leyen said.
In terms of maritime security, she said the EU is ready to strengthen cooperation by sharing information, conducting threat assessment and building the capacity of the Philippine Coast Guard.
Von der Leyen’s visit is the first of a European Commission president in the nearly 60 years of diplomatic ties between the Philippines and the EU. (PNA)
