Phl, Switzerland to boost trade ties

MANILA, Philippines - The Philippines and Swit- zerland hold the first meeting of the Joint Economic Com- mission (JEC) today to discuss the strengthening of trade and investment ties between the two countries.

In a statement, the Depart- ment of Trade and Industry (DTI) said the JEC meeting will be chaired by Trade Under- secretary Adrian Cristobal Jr. and head of the Bilateral Eco- nomic Relations of the Swiss State Secretariat for Economic Affairs (SECO) Ambassador Livia Leu.

“The convening of the Phil- ippines-Switzerland JEC is part of our strategy to intensify our trade engagements in Eu- rope,” Cristobal said.

The JEC was established through an agreement signed by Trade Secretary Gregory Domingo and Marie-Gabrielle Ineichen-Fleisch, state secre- tary and director of SECO, Federal Department of Eco- nomic Affairs of the Swiss Confederation.

“This is a concrete follow- through of the agreement establishing JEC in June last year and the recent signing of the Joint Declaration on Cooperation (JDC) between the Philippines and European Free Trade Association (EFTA) in June of this year,” Swiss Am- bassador to the Philippines Ivo Sieber said.

The JEC will provide a mechanism for the regular conduct of dialogue and ex- changes between the parties with the aim of improving trade and investment flows.

The Philippines, through the DTI, is hosting the in- augural meeting which will include a review of trade and investment relations, exchange of views on multi- lateral, regional and bilateral integration initiatives, initia- tives to improve the business environment, as well as trade and investment promotion and economic cooperation proposals.

A business forum which will be held after the JEC in- augural meeting during which business opportunities in Phil- ippines and Switzerland will be presented.

“The Philippine Chamber of Commerce and Industry and the Philippines-Switzerland Business Council have played an important role in identify- ing areas of mutual interest which can be the basis for enhanced cooperation,” Cris- tobal said.