THE European Union (EU) emphasized that the Philippines is among the developing countries to benefit the most in the proposed free trade agreement (FTA) between the EU and the Association of Southeast Asian Nations (Asean), saying the deal would pave the way for more investment opportunities and facilitate access of the Philippine products into Europe’s rich market.

Ambassador Alistair MacDonald, head of the Delegation of the European Commission in the Philippines, welcomed the earlier announcement of President Arroyo made in Portugal that the FTA between Asean and EU should be signed as soon as possible to help the economies in the two regions facilitate trade and investments.

“It’s going to be important to the Philippines [referring to the FTA], because until now, compared to other countries in Asean, I don’t think the Philippines has taken full advantage of the trade and investment opportunities that the EU can offer,” said Ambassador MacDonald in an interview over the weekend.

The EU official said the proposed trade deal is “a great stimulus” for the revitalization of the trade relations between the Philippines and EU. He also said the EU will also simultaneously negotiate a Partnership Cooperation Agreement (PCA) with the Philippines that would strengthen political relations and boost development cooperation.

The two regions have launched formal negotiations of the FTA in May at the sidelines of the economic ministers meeting of Asean held in Brunei. The two blocs seek to conclude the “ambitious” trade deal in two years.

“The two together [FTA and PCA] will give us the means of both strengthening our economic relations and our overall partnership through political and human rights dialogue,” said MacDonald.

Meanwhile, MacDonald emphasized that the PCA will provide the platform for EU member countries to promote protection of the Filipino migrant workers in Europe, mostly working as domestics in countries like France, Italy and Spain .

At the same time, the framework agreement also covers issues on political dialogue that include regular dialogue on human rights issues, including protection of the rights of legal migrant workers.

It also seeks to facilitate the handling of the Filipino illegal migrants in Europe through “dignified and humane” deportation.

MAJOR alternative oil player Seaoil Philippines Inc. is hoping to increase to 500 its retail service stations in the country over the next three years.

A TRADE dispute may arise between the Philippines and Vietnam due to the decision of the Vietnamese government to unilaterally impose additional tariff on the products of Global Steel Philippines Inc. (GSPI).

THE European Union (EU) emphasized that the Philippines is among the developing countries to benefit the most in the proposed free trade agreement (FTA) between the EU and the Association of Southeast Asian Nations (Asean), saying the deal would pave the way for more investment opportunities and facilitate access of the Philippine products into Europe’s rich market.

THE Philippines would rally for the adoption of concessions that would commit rich countries in helping developing nations improve on their trade capacity and technical competence in the form of grants under the World Trade Organization’s “aid for trade” program.

The celebrated cases of the Quisumbings of Cebu involving some P900 million in damages, claims and inheritances may now have to go through the full route after Wesy B. Quisumbing, who is largely credited for rehabilitating the ailing Norkis-Summa Group of Companies starting in the 1980s but was later disowned by her parents allegedly for “exercising” her femininity, decided to withdraw from the mediation proceedings.