EU official optimistic on PH-EU trade agreement

Posted at Jan 15 2013 05:29 PM | Updated as of Jan 16 2013 01:31 AM

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MANILA, Philippines - European Union Ambassador Guy Ledoux said he looks forward to a free trade agreement between the Philippines and the EU which could help boost trade and investment between the two countries.

Ledoux added the Philippines, which exports mostly electronic products to the EU, should also look at diversifying its products.

He further said the Philippines continues to lag behind its ASEAN neighbors when it comes to foreign investments, partly due to the 60-40 foreign ownership rule.

Meanwhile, the European Union has committed P2 billion for two new projects connected to the health sector and to peace efforts in Mindanao.

ANC News Now, January 15, 2013.