PH, Switzerland eye intensified trade relations at ASEM
More News from Philippine Daily Inquirer
MANILA, Philippines — President Aquino and Swiss President Eveline Widmer-Schlumpf discussed intensifying trade relations between the Philippines and Switzerland during the two leaders’ bilateral talks held at the sidelines of 9th Asia-Europe Meeting in Vientiane, Laos, the Department of Foreign Affairs said on Tuesday.
Aquino and Schlumpf agreed to convene the Philippines-Switzerland Joint Economic Commission — a consultation mechanism to facilitate bilateral discussions on trade and investment cooperation. They also discussed Switzerland’s proposal for a free trade agreement with the European Free Trade Area and affirmed the potential and viability of such a mechanism to enhance economic relations between the Philippines and the Efta countries – Switzerland, Liechtenstein, Iceland, and Norway.
The DFA said Aquino expressed his appreciation for the continued confidence exuded by Swiss companies in the Philippines as seen in the recent expansion of Nestlé, which infused P4.9 billion worth of investments for its new factory in Tanauan, Batangas, and the robust performance of Holcim and other Swiss companies in the Philippines.
There are more than 60 Swiss companies in the Philippines whose operations translate to roughly 12,000 jobs for Filipinos around the country.
Switzerland is participating in the ASEM leaders’ summit for the first time this year.
Get Inquirer updates while on the go, add us on these apps:
- 9th Asia-Europe Meeting
- Benigno Aquino III
- compensation for martial law victims
- Eveline Widmer-Schlumpf
- Foreign affairs
- Global Nation
- International relations
- International Trade
- law and justice
- Marcos ill-gotten wealth
- Philippines-Switzerland Joint Economic Commission
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94