EFTA and Philippines trade experts meet for a workshop on the use of preferences in their free trade agreement

Following opening remarks from H.E. Alain Gaschen, Swiss Ambassador to the Philippines, Krisztina Bende, Director of the Trade Relations Division at the EFTA Secretariat, and Angelo Salvador M. Benedictos, Director of the Philippines Bureau of International Relations, experts exchanged views on their respective analysis with regard to the effective use of the EFTA-Philippines Free Trade Agreement. Following opening remarks from H.E. Alain Gaschen, Swiss Ambassador to the Philippines, Krisztina Bende, Director of the Trade Relations Division at the EFTA Secretariat, and Angelo Salvador M. Benedictos, Director of the Philippines Bureau of International Relations, experts exchanged views on their respective analysis with regard to the effective use of the EFTA-Philippines Free Trade Agreement.

During the workshop, both sides were able to identify which product categories were the main beneficiaries from the free trade agreement as well as which products have not yet been able to reap the benefits of tariff preferences granted by the agreements.

Parties also addressed possible avenues for strengthened cooperation with the objectives of enhancing the visibility and use of FTAs for exporters and importers from both EFTA and the Philippines.

The workshop was co-chaired by Michèle Glauser from Switzerland and Angelo Salvador M. Benedictos from the Philippines.

Economic relations between the EFTA States and the Philippines

In 2022, the EFTA States exported goods worth more than USD 465 million to the Philippines (trade without gold). Electrical machinery, pharmaceutical products, and clocks and watches were the most important exports. In return, EFTA’s imports from the Philippines amounted to approximately USD 382 million (trade without gold) and were mainly composed of electrical machinery and mechanical appliances.

Read more about merchandise trade between EFTA and the Philippines here.