European Union (EU) Ambassador to the Philippines Franz Jessen said he wants a faster conclusion of talks for the ambitious EU-Philippines free-trade deal. Jessen noted that the timing to improve business ties is perfect, as the Philippines is enjoying strong economic growth. The ambassador told members of the Italian Chamber of Commerce in the Philippines that the EU provided 37% of all new reported investments in the Philippines in 2015, with most of the foreign direct investments invested in manufacturing and business process outsourcing. Jessen said the free trade agreement is needed to make EU-Philippines trade grow stronger, and to work together on market access.
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