Locally-Based Euro Firms Hired More Than 800K Filipinos in 40 Yrs

Member companies of the European Chamber of Commerce of the Philippines (ECCP) have created more than 800,000 jobs in the country since its establishment in 1978, its President Guenter Taus said as the influential business group marks its 40th anniversary.

In a media event Thursday evening, Taus noted that the business group has played a significant role in promoting stronger trade and investment ties between the Philippines and the EU. He added that the business group has been closely working with the Philippine government through its advocacy tools in promoting policies that would improve business environment in the country.

The ECCP, together with the EU-Philippines Business Network, issues advocacy tools, such as letters to members of the government, drafting of bills, position papers on proposed reforms or current issues, and advocacy papers.

It also lists recommendations in sectors that would enable long-term economic growth in the country, including the sectors of agriculture, automotive, consumer goods and retail, energy and renewables, environment and water, energy efficiency, food and beverages, healthcare and pharmaceuticals, human capital, information technology and business process outsourcing, infrastructure and transportation, manufacturing, maritime, tax and financial services, and tourism.

Data from the EU showed that its bilateral trade with the Philippines in the first half of 2017 grew by 17 percent to USD7.8 billion. Philippine exports to the 28 EU member states increased by 36 percent in H1 2017 from the same period a year ago with the help of the EU Generalized Scheme of Preferences Plus (GSP+), wherein it allows some 6,274 goods from the Philippines to enter the EU market duty-free.

In 2016, EU was the largest investor in the Philippines. About 28 percent or PHP62 billion of investments in the country in 2016 originated from companies from the EU. “Looking into the future, it is my hope that the ECCP will continue to do the good work it has done in the past,” said Taus.

“Our hope is that the Chamber will continue to serve the European-Philippine business community with the same vigor and commitment it has over the past 40 years,” he added. The ECCP has gained nearly 800 member companies ranging from medium-sized to multinational corporations since its inception. (PNA)