By JOCELYN MONTEMAYOR
President Marcos Jr. has secured the commitment of the European Council to cooperate with the Philippines on a wide range of areas such as trade, climate mitigation, and support for the country’s bid to address issues in the Philippines’ seafaring industry.
The President met with European Council president Charles Michel on the the sidelines of the 10th Association of Southeast Asian Nations and the European Union (Asean-EU) Business Summit in Brussels on Tuesday.
Marcos also highlighted the vital role of Asean countries and its increased presence in the world economy during their meeting. The Philippines is the dialogue facilitator between Asean and the EU.
The European Council consists of the heads of state or government of the EU’s member-states.
Michel for his part agreed with the idea that there is a need to operationalize the green fund on climate change and the damage and loss policy. The Green Climate Fund (GCF) was designated as an operating entity of the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC) and aims to encourage the paradigm shift towards low-emission and climate-resilient development by providing support to developing countries to reduce their greenhouse gas emissions (GHGs) while at the same time adapting to the effects of climate change.
He also said the EU is ready to work with the Philippines and Asean on climate change, particularly on the transfer of green technology, which involves improving resilience to climate change and reducing GHGs.
In addressing the summit, Marcos said while free trade agreements between the Asean-EU remains a long-term objective, economic cooperation initiatives among specific countries, including the Philippines, will be prioritized particularly on areas of mutual interests.
Marcos also emphasized the importance of forging stronger public-private cooperation to boost trade and investment especially in a post-pandemic economic setup, and of expediting the implementation of the EU’s Indo-Pacific Strategy.
Marcos said Asean member- countries will continue to recognize the historical importance of the EU as a trade and investment partner to Asean even as he urged his fellow leaders and business representatives to continue to strengthen trade and investment endeavors between the EU and Asean, in a bid to enhance economic integration between the two blocs.
He also expressed hope that through the Asean-EU Trade and Investment Work Programme, the momentum could continue in 2023 and beyond.
“Thus, while the Asean-EU FTA (free trade agreement) remains a common long-term objective, economic cooperation initiatives will be prioritized on areas of mutual interest in order to bridge the gap and realize this long-term objective,” Marcos said.
The President also recognized the crucial role of the Asean-EU Business Council in advancing Asean’s regional economic integration, in the post-coronavirus disease pandemic economic recovery efforts through its initiatives and valuable insights.
Marcos said the business council for instance has provided a platform for the much-needed dialogue between the EU and Asean, after the reopening of borders with the easing of the COVID-19 pandemic.
He also pitched for continued closer and stronger public-private collaboration amid the challenges that the world is facing brought about by recent geopolitical tensions.
“There is a growing need for the public sector to collaborate with private institutions, especially now that Asean member-states are in a post-pandemic economic recovery and are facing new challenges brought about by recent geopolitical tensions, problems in the supply side, problems also with food prices,” he said.
The President, meanwhile, highlighted the increased presence of Asean on the global stage through its efforts on regional economic integration and supply chain resilience.
Marcos said the entry into force of the Regional Comprehensive Economic Partnership or RCEP, the ongoing review of existing trade agreements, and Asean’s initiatives to facilitate trade of essential goods demonstrates the region’s push to maintain an “open, free, and fair trade.”
He said Asean is also well-positioned to accelerate intra-regional trade and growth following the participation of its member countries in mega trade deals such as the RCEP and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The President’s trip to Brussels is his first in Europe and his seventh abroad, since becoming president last June.
Marcos is expected to return to Manila on Thursday evening.
He is expected to go on a state visit to China in January.
Speaker Martin Romualdez said the President has agreed to attend the World economic Forum in Davos in Switzerland in January.
WEF founder and executive chairman Klaus Schwab invited Marcos Jr. to attend the event in Davos from January 16 to 20 during their meeting in Cambodia on the sidelines of the Asean Summit.
Schwab had commended Marcos then for the strong showing of the economy and said that his attendance to the WEF serves as a good opportunity to let the global business community know about the dynamism and positive developments happening in the Philippines in a bid to attract more investors.
