The EU is funding a project to bring European SMEs closer to ASEAN (Association of Southeast Asian Nations) SMEs. The goal is to identify business opportunities per ASEAN country, make these opportunities visible in the 28 EU member states and then assist the European SMEs into the ASEAN markets of their choice. Part of the project is also to create a level playing field for these European SMEs, to remove technical and other barriers to trade and investment and to foster B2B cooperation with ASEAN SMEs.
In the Philippines, the EU-Philippines Business Network (EPBN) has been initiated to further strengthen trade and economic relations between the EU and the Philippines. The Italian Chamber of Commerce (ICCPI) is one of the partners that is committed in the EPBN project with the goal to increase and diversify export and investments of EU business EU-Philippine trade and investment relation are continuously growing, as the EU remain the largest investment partner and fourth largest treading partner of the Philippines. Locally established EU SMEs have created positive spillover effects such as job creation, industrial development and technology transfer.
The EU-Philippines Business Dialogue uncovered the high-potential trade & investment opportunities EU-Philippine SMEs share; in addition to high-level speakers from both the Philippines and the European Union, two panels have been scheduled for discussion.
The dialogue aims to:
- Identify opportunities in the Philippine market in sectors where EU SMEs can offer new products, technologies and services, namely in consumer goods and retail, in construction and retrofitting, as well as in renewable energy and energy efficiency.
- Join forces between the EU and the Philippines to strengthen our respective positions in an integrated ASEAN.
- Improve the regulatory framework to make the Philippines the most attractive destination for trade and investments in ASEAN.
Michael K. Raeuber, president of the European Chamber of Commerce of the Philippines, said that the objective of the newly formed organization was to “identify business opportunities in the Philippines… and to guide European companies that want to enter the Philippine market.