Ambassador Jimeno with Swiss State Secretary for Economic Affairs Ineichen-Fleisch

Philippine Ambassador to Switzerland Joselito A. Jimeno called on 09 December 2015 on Swiss State Secretary for Economic Affairs Gabrielle Ineichen-Fleisch. During the call, Ambassador Jimeno updated the State Secretary on economic developments in the Philippines in recent years, particularly the economic reforms made by the Aquino administration.  He briefed the State Secretary on developments regarding the ongoing negotiations on the Philippines-EFTA free trade agreement (FTA).

State Secretary Ineichen-Fleisch welcomed the ongoing FTA negotiations and said that she looks forward to its early conclusion. The anticipated conclusion of the Philippines-EFTA FTA should provide impetus for increased economic and business exchanges between the Philippines and EFTA countries, which include Switzerland, Liechtenstein, Norway and Iceland.

According to State Secretary Ineichen-Fleisch, the benefits of FTA should be extensively promoted among Swiss businesses. She added that the top concern for Swiss investors is a stable, good, open and predictable business environment where business and investment policies are consistent.

The State Secretary visited the Philippines in June 2013 to provide support for the early start of negotiations on a free trade agreement between the Philippines and EFTA countries. The EFTA countries are potential source of foreign direct investment.

EFTA was formed in 1960 as an economic counterbalance to the then European Economic Community (EEC), the precursor of the European Union. It is currently in different stages of FTA negotiations with some ASEAN countries such as Indonesia, Vietnam, Malaysia and Thailand. It has an existing FTA with Singapore. END