Cyprus eyes stronger Philippine trade ties through EU pact
Foreign Minister Constantinos Kombos said the proposed agreement could open business opportunities, while steps towards conclusion and signing remain.
A proposed EU-Philippines free trade pact could deepen commercial links between Cyprus and the Philippines by encouraging investment and opening opportunities for companies, Cypriot Foreign Minister Constantinos Kombos told The Philippine Star.
His comments followed an announcement by European Commission president Ursula von der Leyen that negotiations had produced substantial agreement. Kombos welcomed that progress but noted that further steps were needed before the pact could be concluded and signed.
Kombos said the two economies complemented each other, offering scope for stronger bilateral trade. He called for a suitable institutional framework and more interaction between businesses to identify opportunities and develop cooperation in additional areas.
As an EU member, Cyprus could provide Philippine firms with a route into the bloc’s market, he said. He identified education, tourism, technology, shipping, and professional and financial services as potential areas. Philippine market access could also create opportunities for Cypriot businesses, he added.
Von der Leyen said the pact should benefit businesses, investment and employment. She also said it would advance shared sustainable-development priorities and the shift towards cleaner and more digital economies.
