Taipei, Nov. 26 (CNA) Representatives of Taiwanese businesses attended an investment forum organized by Sung Yueh Construction Corp., and supported by the Commercial Affairs Section of the Manila Economic Cultural Office, in Taipei on Tuesday.
The objective of the forum was to attract investors to the Philippines by advocating for the Southeast Asian country as Taiwan's gateway to markets around the world.
Michael Ignacio, trade representative and director of commercial affairs at the Manila Economic and Cultural Office in Taipei, said the Philippines can provide Taiwanese businesses with access to the ASEAN Economic Community, which covers a market of 650 million people in 10 countries.
"It is like the EU, if we sell to each other we do not pay any import duties or tariffs because it is now a single market," Ignacio said to about 100 participants at the forum, held at a luxury hotel.
Taiwanese businesses in the Philippines can also enjoy the privileges provided in the free trade agreements ASEAN has with Japan, South Korea, India, Australia, New Zealand, and China, Ignacio said, adding that the Philippines also has free trade agreements with Iceland, Liechtenstein, Norway, and Switzerland.
Read more: Focus Taiwan
ABOUT PTIC TAIPEI
The Philippine Trade & Investment Center in Taipei is the Commercial Affairs Section of the Manila Economic and Cultural Office and the representative office of the Philippine Department of Trade & Industry in Taiwan