EU seeks deeper economic ties with Philippines

Jessica Fenol, ABS-CBN News

Posted at Oct 04 2017 11:45 AM

MANILA - European businessmen said Wednesday they were seeking deeper ties with the Filipino counterparts, ahead of an investment summit in the Philippine capital this month.

The European Union is the Philippines' largest source of foreign investments and second biggest export partner, said European Chamber of Commerce of the Philippines president Guenter Taus.

Europe and the Philippines "must strive to build on its current successes and pursue its commitment on further deepening" economic ties, Taus told reporters.

The fourth EU-Philippines Business Summit will be held on Oct. 17 with 350 expected delegates.

"I expect this year's summit to attract a high level of attention. Europe is open for business and is going strong. The Philippines are enjoying, as never before, increased access to the EU's vast market. There are opportunities aplenty for both sides," EU Ambassador to the Franz Jessen said.