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THE
Philippines has begun formal negotiations for a
Partnership Cooperation Agreement (PCA) with the
European Union (EU) that seeks to establish programs on
human rights, migration, security, intellectual property
and counterterrorism.
Foreign
Undersecretary for International Economic Affairs Edsel
Custodio met with EU officials James Moran, director for
Asia, and Seamus Gillespie, head of the
Southeast Asia unit, in Luxembourg last week.
The PCA
is a parallel accord being negotiated by the EU with
member-countries of the Association of Southeast Asia
Nations (Asean) in preparation for a comprehensive
free-trade agreement (FTA) covering the two regional
blocs.
In
Manila, ambassador Alistair Macdonald, head of the
Delegation of the European Commission in the
Philippines, said key economic officials of the two
regional blocs will meet for the second time in
Singapore later this month.
“The
meeting [in
Singapore]
will cover discussions on the details of the free trade
agreement,” said Macdonald in an interview at the
Department of Foreign Affairs (DFA). He said the first
meeting of the key officials of the EU and Asean in
Brunei held at the sidelines of the Asean Economic
Ministers Meeting in May this year was the formal launch
of the negotiations. But the meeting in Singapore would
mainly deal with the substance of the FTA.
“The
Philippines welcomes the negotiations of a partnership
agreement with the European Union as this will enhance
our relations with EU which is a major player in
international politics and economics,” said
Undersecretary Custodio in his report to the DFA over
the weekend.
While in
Luxembourg, Custodio met with officials of the
Luxembourg Chamber of Commerce, the Association of Fund
Industry and the Bankers Association to discuss business
opportunities in the Philippines.
Custodio
stressed that the
Philippines
plays an important role in the evolving regional
integration of the Asean and the Asia-Pacific Economic
Cooperation (Apec) and serves as a commercial base in
the Asia-Pacific region.
He said
the Philippines is currently strong in the areas of
mining and energy—including activities relating to
renewable energies and clean development—and business
process outsourcing.
He said
the enhanced cooperation and dialogue under the proposed
PCA is beneficial to the Philippines and EU member
countries, as it provides an opportunity for dialogue.
Custodio
also held bilateral meetings with officials of Belgium
and Luxembourg to discuss cooperation on Philippine
projects in environment and microfinance.
Discussions with ambassador Christiaan Tanghe of the
Belgian Ministry of Foreign include bilateral
cooperation in the fields of medical tourism, “clean and
green” projects and dredging including reclamation and
cleaning of the Pasig River.
At the
same time, the meeting with Director Marc Bichler of the
Ministry for Development Cooperation of Luxembourg
focused on developing microfinance as bilateral project.
While
the Philippines still needs to develop microfinance in
terms of policy environment and institutional structure,
Custodio said “there exist many opportunities in
energizing this sector to broaden and deepen
microfinance services in the country.” |
