Europe, RP resume trade talks next month
Manila Standard | 19 May 2010
Europe, RP resume trade talks next month
by Julito G. Rada
Trade Secretary Jesli Lapus said the Philippines and the European Union will resume talks next month over a free trade agreement after resolving a statement over copyright protection.
Lapus, in a text message to reporters Monday evening, said the two panels cleared the stumbling bloc to the resumption of negotiations after the “EU agreed to accept [our] IPO proposal.”
“We therefore expect the next seventh round [of talks] in June to be the final one,” he said.
Lapus did not specify the proposal offered by the Philippine Intellectual Property Office. Earlier, he said the intellectual property laws between the two parties should be consistent with each other.
He said the EU, like the Philippines, was also eager to complete the negotiations within the year. He said once a partnership agreement was sealed, the two parties could start formal negotiations for a free trade agreement, hopefully also within the year.
“EU is Asean’s biggest regional trading partner. If we get a [partenrship cooperation agreement] or FTA, we expect a double-digit growth, like China or Japan,” Lapus said.
German businessmen during the Asia-Pacific Conference of German Business last week in Singapore expressed interest to invest in the Philippines, especially in the renewable energy. But Lapus said the Germans were concerned on the law on foreign ownership in the Philippines.
Lapus said similar negotiations between the EU and some Asean countries were also ongoing.
He cited similar talks on individual free trade agreements between Asean countries and China and Japan. China accounted for 17 percent of the Philippines exports, while the EU constituted 21 percent in 2009.
