MANILA — European Union (EU) Ambassador Franz Jessen on Monday said the concurrence of the Senate to the ratification of the Partnership and Cooperation Agreement (PCA) is a “major milestone” and a big step forward in the EU-Philippines relationship.
The PCA will serve as a general framework to allow better collaboration between the EU and the Philippines in a number of crucial areas including political, economic, and development issues.
The Philippines and the EU established diplomatic relations in 1964. EU remains to be a robust partner of the Philippines.Now that the Senate has concurred to the ratification, the next challenge is to get the framework effectively operational, Jessen said.
“From the EU side, we will do everything to keep the relationship with the Philippines robust, dynamic and positive,” he assured.
Mostly contributed to Philippines being a beneficiary of the EU-Generalized Scheme of Preference Plus (GSP+), preliminary figures show that the EU is the country’s second largest export partner, with exports in the first 9 months reaching USD7.1 billion.
This includes a strong increase in the agri-food sectors.
Moreover, foreign direct investments (FDIs) from the 28 EU member states represent the largest FDIs in the country, supporting over 500,000 jobs. (PNA)