The Norwegian Ambassador Christian Halaas Lyster has stated that he expect Norway to increase the trading with the Philippines in the future. He stated this to reporters during the reception for the visit of Norway State Secretary Andreas Motzfeldt Kravik on the 25 April 2024.
He bases his statement on data from the Norwegian Embassy which show that Philippine exports to Norway has risen by 23.5 percent in 2022 from 2021.
He underlines the importance of the European Free Trade Association (EFTA) and the Free Trading Agreements (FTAs), which has already been placed. This makes the trading between the two countries much easier.
“I’m very optimistic about the developments. As long as the Philippines is able to have a stable framework, predictable framework for companies, then I think that there will be more companies, more investors coming to the Philippines,” said the Norwegian Ambassador Christian Halaas Lyster.
One of the outcomes of this event is that the firm, SNAP (SN Aboitiz Power), which is a joint venture between AboitizPower and the Norwegian firm Scatec has released their plans to expand with additional battery facilities in the Philippines.
“We’re already waiting on an investment decision next month. Two more battery projects. We have four hydropower sites, so we’re building batteries next to all of them. That’s already next in line,” said Scatec Country manager Philippines Andrea Isabel Co.
Source: PhilStar and Manila Bulletin
