The Philippines and Norway have formally reaffirmed their commitment to deepening bilateral trade and investment relations. In a high-level meeting held recently, Department of Trade and Industry (DTI) Secretary Cris A. Roque and H.E. Christian Lyster, Ambassador of the Kingdom of Norway to the Philippines, outlined a strategic roadmap to enhance economic cooperation between the two nations.
A central pillar of the discussion was the Philippines–European Free Trade Association (EFTA) Free Trade Agreement. Both leaders emphasized the agreement’s crucial role in establishing a stable and competitive environment for businesses.
With Norway being a key member of EFTA, the DTI emphasized the untapped potential for Philippine exporters in the Nordic market and the reciprocal opportunities for Norwegian firms in the Philippines’ emerging sectors.
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Upcoming Joint Committee Meetings: The Philippines is set to host the next round of Joint Committee Meetings (JCM). These sessions will focus on streamlining customs procedures, removing technical trade barriers, and ensuring the full utilization of preferential tariffs.
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Strategic Sectors: Discussions pointed toward increased collaboration in maritime industries, renewable energy (specifically offshore wind), and digital infrastructure.
Beyond bilateral interests, Secretary Roque and Ambassador Lyster discussed the broader international trade landscape. The Philippines reiterated its firm support for World Trade Organization (WTO) reforms, advocating for a more transparent, predictable, and inclusive multilateral trading system that benefits developing economies.
Secretary Roque briefed the Norwegian delegation on the Philippines’ aggressive economic reform agenda. These initiatives are designed to position the country as a premier investment hub in Southeast Asia:
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Liberalization of Key Sectors: Ongoing implementation of the Public Service Act and Retail Trade Liberalization Act.
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Digital Transformation: Streamlining government processes to reduce the cost of doing business.
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Sustainability Focus: Aligning investment incentives with green energy projects and sustainable manufacturing. “Our partnership with Norway is built on a foundation of mutual respect and shared economic goals,” said Secretary Cris A. Roque. “By leveraging the EFTA framework and continuing our domestic reforms, we are creating a fertile ground for Norwegian innovation to thrive in the Philippine market.”
