ECCP urges continued reforms to sustain PH economic momentum

The European Chamber of Commerce of the Philippines (ECCP) urges the country to capitalize on its current economic momentum by continuing policy reforms and trade promotion initiatives.

ECCP President Paulo Duarte highlighted the Philippines' resilience and status as one of the region's fastest-growing economies, attributing this to its young, English-proficient population.

Duarte noted the positive economic indicators, including inflation averaging 3.2 percent in 2024, which fell within the government's target range.

Strong GDP growth projections of six percent for 2024 and significant remittances from overseas Filipino workers are key economic drivers.

To sustain this growth, the Philippines must maintain its pace in implementing policy and regulatory reforms.

The upcoming second round of negotiations for the EU-Philippines Free Trade Agreement in February presents an opportunity to bolster trade and investment relations with Europe.