MANILA – The Philippines and the European Union (EU) Subcommittee on Trade, Investments and Economic Cooperation held a virtual meeting Friday with “special attention” to the implementation of the Generalised Scheme of Preferences Plus (GSP+).
Trade and Industry Assistant Secretary Allan Gepty, representing the Philippine government, led the meeting while the EU side was represented by Directorate-General for Trade (DG Trade) head of unit for South and South-East Asia, Australia, and New Zealand Peter Berz.
“The sub-committee meeting took place in a friendly and constructive atmosphere and provided a platform for both the EU and the Philippines to discuss various trade-related topics including bilateral trade and investment performance, with close attention to the implementation by the Philippines of the GSP+ preferential trade scheme and the related commitments,” the delegation of the EU to the Philippines said in a statement on Saturday.
It added that both sides also discussed issues on market access, regulatory developments, regional trade agreements and reforms in the multilateral trading system, and areas for future engagement and cooperation.
The EU said close cooperation with the Philippines amid the Covid-19 pandemic is crucial to reinforce international partnership for economic recovery.
The Philippines and the EU strengthen their bilateral ties since the EU-Philippines Partnership and Cooperation Agreement (PCA) entered into force in 2019.
The PCA formed the subcommittee on Trade, Investments and Economic Partnership to boost cooperation between the Philippines and the EU on the economic front. (PNA)
