[In photo, L-R: DTI Bureau of International Trade Relations (BITR) Michael Allen Fernandez, Kiezel Gendrano, Jan Redmond Dela Vega, Philippine Trade and Investment Center (PTIC) Jakarta Commercial Attaché Jeremiah Reyes, DTI Assistant Secretary Allan Gepty, DTI Secretary Fred Pascual, Standard Chartered Vice Chairman Rino Donosepoetro, Maersk Head of Public Affairs Southeast Asia and Oceania Lai Fung Min Jesselynn, EU-ASEAN Business Council (EU-ABC) Executive Director Chris Humphrey, EU-ABC Secretary and Executive Board Member Gustaaf Reerink]
At the sidelines of the 19th ASEAN Economic Ministers–European Union (AEM-EU) Consultation in Semarang, Indonesia on 20 August 2023, Secretary Alfredo Pascual met with the delegation of the EU-ASEAN Business Council (EU-ABC) led by Gustaaf Reerink, Chris Humphrey, and Rino Donosepoetro.
Both delegations welcomed the positive developments on the EU Generalized Scheme of Preferences Plus (GSP+) and the commencement of the scoping process for a possible PH-EU Free Trade Agreement (FTA), which are expected to support and sustain the continued growth of trade and investment between the Philippines and EU.
During the meeting, Secretary Pascual acknowledged the strong support from the EU-ABC for the resumption of negotiations of the PH-EU FTA.
He likewise highlighted the successful meeting of President Ferdinand R. Marcos Jr. and European Commission President Ursula von der Leyen last July in Manila.
Recognizing the mutual interests in the areas of renewable energy and sustainable financing, Secretary Pascual also highlighted to the members of the EU-ABC the country has a strong economic potential for solar, wind, and geothermal energy.
In considering investments, he stressed companies should take into account the full renewable energy supply chain, thus, opportunities in research and development and manufacturing should also be considered.
