DTI sets meetings with US, European officials

MANILA, Philippines - The Department of Trade and Industry (DTI) is set to hold meetings with US and European officials starting next month to drum up investor interest and promote greater trade.

In a press briefing yesterday, Trade Secretary Gregory Domingo said that following the visit of US President Barack Obama in April, US Minister of Commerce Penny Pritzker will be visiting the country and bring with him a delegation composed of 12 businessmen next week.

Representatives of American companies engaged in various sectors such as insurance, financial services, energy, risk, consumer goods, communications, electronics and mining will be in the country to explore business opportunities.

“The visit is in view of enhancing trade and investments between the US and the Philippines,” Domingo said.

Trade Undersecretary Ponciano Manalo Jr. said in the same event the DTI will also be visiting the US next month to promote opportunities in manufacturing, information technology – business process management, particularly health information services.

“As we speak, the Philippine embassy is doing investment roadshows in Houston, Atlanta and Philadelphia to further convince companies to consider investing in the Philippines,” he said.

DTI officials will also be visiting Germany, France, Sweden and Norway next month to promote the country both for trade and investments.

“Our planned visit to Europe this June aims to further strengthen the economic ties of the Philippines with European countries as well as to sustain the gains from our visit in 2013 and return visits made by officials and various business delegations from Europe to the Philippines,” Manalo said.

Trade Undersecretary Adrian Cristobal Jr. said DTI officials will also be going to Iceland on June 23 for the signing of the Joint Declaration on Cooperation (JDC) between the Philippines and European Free Trade Association (EFTA).

The joint declaration is seen as a basis for discussions for a possible free trade agreement between the Philippines and EFTA, composed of Iceland, Liechtenstein, Norway and Switzerland.

The JDC seeks to expand trade relations through exchange of views and cooperation in the areas of, technical barriers to trade, sanitary and phytosanitary measures, trade facilitation, intellectual property rights, public procurement, competition and trade and sustainable development.