Norway and Switzerland have lauded the Philippine Senate’s concurrence over the ratification of the free trade deal.
Norwegian Ambassador Eric Forner and Swiss Ambassador Andrea Reichlin both said on March 8 that the Free Trade Agreement (FTA) could boost the ties between the Philippines and the the European Free Trade Association (EFTA).
“This agreement is beneficial to both parties and will encourage and stimulate cross-border trade,” Forner said.
The trade pact seeks to allow countries in the agreement to freely access market goods and services, which could strengthen the Philippines’ foothold in the European market.
“FTAs provide entrepreneurial incentives, as well as the highest political commitment to move forward in the best interest of respective citizens and in managing global commerce,” Reichlin said.
Forner expressed that Norway would “intensify trade in goods and services in a number of areas such as fisheries, seafaring, maritime transport, energy, as well as financial services in the Philippines.”
For Reichlin’s part, Switzerland would team up with the Philippines for clean technologies, pharmaceutical industry, renewable energy, and precision engineering, among other sectors.