EU Trade Commissioner Cecilia Malmstrom is set to arrive in Manila today to attend the 15th Asean Economic Ministers-European Union Trade Consultations, the first big business event following the Philippines’ appointment to the Asean chairmanship.
Malmstrom will also meet with her counterparts from Asean to dicuss EU-Asean Trade Relations including the goal of a Free Trade Agreement between the two regions.
“This meeting is an important occasion to reaffirm the strong ties between the EU and Asean and our joint commitment to good trade relations. At the meeting, we can lay the foundation to facilitate the work of our respective businesses, and for connecting across our two regions,” Malmström said in a statement.
She will deliver a speech during the Asean-EU Business Summit.
“I especially look forward to discussing how to advance plans for a region-to-region Free Trade Agreement between the EU and Asean,” she said.
Malmstrom said several European companies have found their way to Asean, providing decent jobs and supporting growth,
“Especially the small and medium-sized companies are now looking at us, economic ministers, to facilitate their good work further,” she said.
EU Ambassador Franz Jessen for his part described Malström’s visit as a milestone in the Trade industry and said that she would discuss three points during the summit.
“Trade and investment relations between the regions are growing,” Jessen said.
In 2016, Asean-EU two-way trade stood at €208 billion.
EU imports from Asean doubled since 2009 and EU-Asean trade in services in 2015 was €79.6 billion – three times as much as compared a decade ago.