Swiss Foreign Affairs Minister Ignazio Cassis (Photo by Keystone/Gaëtan Bally via the Swiss government portal)
MANILA – Swiss companies are seeing the Philippines as an attractive investment destination, Swiss Federal Councillor and Foreign Minister Ignazio Cassis said Thursday.
On the sidelines of a bilateral meeting with Foreign Affairs Enrique Manalo, Cassis said doing business with the country has become “much easier” than in the past.
“There is also growing interest by Swiss companies to invest in this country,” he said. “With the free trade agreement between the EFTA (European Free Trade Association) family – Switzerland, Norway, Iceland, and Liechtenstein – and your country signed in 2018, doing business between the Philippines and Switzerland has become much easier and more attractive than earlier.”
He said investments from Swiss firms into the Philippines have so far created more than 28,000 well-paid jobs.
During the meeting, Cassis and Manalo agreed to work towards the full implementation of the Philippine-EFTA free trade deal.
"The Philippines is going through a remarkable process of modernization and economic growth. It’s important to use the opportunities offered by these developments," Cassis said.
On top of economic relations, the two officials also discussed the possibility of continuing Switzerland's contribution to peaceful development in the Philippines.
From 2014 to 2021, Switzerland chaired the Transitional Justice and Reconciliation Commission, which was established to implement the peace agreement in the Bangsamoro.
The two officials also expressed concern over the “increasing geopolitical fragmentation” across the world.
Among the topics they discussed were the growing tensions in the South China Sea and Switzerland's role in the United Nations Security Council and its efforts to host a high-level conference on peace in Ukraine.
Manila was the last leg of Cassis’ Asia-Pacific trip after his official visit to India, South Korea, and China.
He said this trip served as an opportunity to gather the views of the four countries on the war in Ukraine and possible paths to peace.
“Given their political significance, their perspectives on this war are important to the organization of a high-level conference in Switzerland on peace in Ukraine,” it said. (PNA)
