Sweden is highlighting new opportunities for European businesses in the Philippines as negotiations on an EU-Philippines Free Trade Agreement make progress.
Anna Ferry, Swedish Ambassador to the Philippines, joined members of Team Sweden and business leaders from Europe and ASEAN at the 12th ASEAN-EU Business Summit in Manila.
The summit brought together more than 200 representatives from government, business, multilateral institutions and the diplomatic community to discuss the potential impact of closer EU-Philippines economic ties.
According to the Swedish Embassy in Manila, discussions focused on how the proposed trade agreement could support trade, investment and innovation while providing businesses with a more predictable and rules-based environment.
The summit also covered energy transition, digital connectivity, financial inclusion, health and human capital development.
For Swedish and other Nordic companies operating in the Philippines, closer EU-Philippines trade relations could have implications for investment and market access across sectors including technology, energy and healthcare.
The Swedish Embassy said the agreement’s eventual success would depend on its ability to translate into investment, jobs and innovation across both regions.
