BusinessWorld Online
CEPA with Chile seen boosting trade
European businesses are optimistic about entering the Philippine market due to ongoing reforms and the prospect of a free trade agreement (FTA) with the EU.
The EU-ASEAN Business Council (EU-ABC) highlighted the confidence of European firms in the current administration's direction and the progress of FTA negotiations.
Recent reforms implemented by the Marcos administration are seen as improving the ease of doing business in the Philippines.
Specific reforms, such as the amended Investor's Lease Act and initiatives promoting the green economy, are making the Philippines a more attractive investment destination.
The anticipated completion of the EU-Philippines FTA by the end of next year is expected to further reduce barriers for European companies.
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