The Philippines and Slovenia aim to expand investment and trade partnership, following the opening of the latter’s embassy in Manila, which is the first and currently the only Slovenian mission in Southeast Asia.
On the sidelines of the memorandum of understanding (MOU) signing of the Philippine Chamber of Commerce and Industry (PCCI) and Chamber of Commerce and Industry of Slovenia in Taguig City Wednesday, Slovenian Foreign Minister Tanja Fajon said the European country considers the Philippines as its strategic trading partner and a haven for Slovenian investments.
“Business is built on trust, shared values and long-term partnerships. That is precisely why we are here to listen, to understand and explore new possibilities together. There is a great potential to expand economic ties,” Fajon said.
Fajon is accompanied by 40 Slovenian companies and institutions in transport and logistics, transport infrastructure, food, beverages, agriculture, forestry machinery, mechanical engineering, information and communications technology, education, and human resources, exploring business opportunities in the country.
“Current economic cooperation between the two countries is modest, but we believe there is great potential for further development of bilateral economic cooperation, not only in trade but also in services, capital flows and investment,” Fajon told the Philippine News Agency (PNA) in an e-mail.
“As I have already said, with the opening of the Embassy, we look forward to increasing bilateral trade and strengthening economic relations between the two countries."
She said Slovenia sees the Philippines as an important gateway in ASEAN, with its strategic location, business-friendly reforms, highly skilled workforce, and growing demand for European expertise.
“For Slovenian companies looking to expand into Asia, the Philippines offers a dynamic and promising economic landscape full of opportunities for growth and cooperation. Furthermore, we look forward to the opportunities that the EU-Philippines free trade agreement, which is currently being negotiated, will bring,” Fojan said.
On the other hand, Department of Trade and Industry (DTI) Secretary Ma. Cristina Roque has urged Slovenian firms eyeing to invest in the country to take advantage of the fiscal incentives under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) law.
“We have made strategic policy shifts to foster a more business-friendly environment, including the CREATE MORE, a game-changer in foreign trade and investment,” Roque said in her speech.
PNA PHOTO
