Economic and diplomatic cooperation between the Philippines and Denmark has been seen to get a major boost this year, following the reopening on Thursday of the Danish embassy in Manila.
At the inauguration of the new offices of the Danish embassy signaling the reestablishment of Danish presence in the Philippines, Trade and Development Cooperation Minister of Denmark Mogens Jensen said this year will usher a new era of reinvigorated ties between the Philippines and Denmark in political, economic and cultural areas.
“I think there is much more potential for greater cooperation between the Philippine and Danish companies…. In this context, promoting trade between our two countries is indispensable. I hope that the negotiations of the free trade agreement (FTA) between European Union (EU) and the Philippines will move forward in substance this year. Opening up our economies is the only sustainable way forward,” Jensen said in his opening remarks.
Jensen said such an arrangement is pivotal as the Southeast Asia region is set to be on the spotlight in the coming years, with the regional economic integration set to begin at the end of 2015.
Jensen’s local counterpart, Trade Secretary Gregory L. Domingo, for his part, said the Philippines may not be the priority of the European Union, as it is currently engaging Japan and Vietnam in FTA talks.
“It depends on the pace of the EU kung kailan sila magiging available in terms of ’yung attention nila meron naman pero they are paying attention to all these FTAs that they’re working on,” Domingo said in a chance interview.
However, the EU has reiterated, in the past three years, the high level of commitment that an FTA would entail from the Philippines, which includes pushing for reforms in investment rules for foreign firms and championing a modern competition policy.
Domingo insisted that there’s no “expectation” on the FTA this year, and the progress would depend on the EU.
Meanwhile, Jensen is optimistic of boosting relations with the Philippines, given the 12-year absence of the Scandinavian country.
“Within recent years, the Philippines has shown impressive growth rates. The country has proven its improvement in fighting corruption and in ease of doing business. the political and economic development of the country, in recent years, is a solid background for the trade delegaton that is traveling with me,” said Jensen, explaining the renewed interest of Danish firms in the Philippines.
Jensen led a 19-company business delegation, players in the sector of sustainable solutions (energy, water, energy efficiency), food (agro-industry, food and food processing), and healthcare solutions, to meet with local firms on Friday.
Jensen championed the expertise of Danish firms in these sectors, especially in energy, considering the gap in supply in the sector.
“Danish companies carry with them solutions to open the energy market to quickly bridge the gap between production and consumption. Invest more in infrastructure and you shall get rid of bottlenecks, which are also challenges. There are also opportunities to learn about public-private partnership projects in the pipeline,” the Danish government official added.
60 percent of the Scandinavian country’s national output are hinged exports, most of which are food and agricultural products.
Catherine N. Pillas