CCCI aims to strengthen trade relations with EU

The Cebu Chamber of Commerce and Industry (CCCI) is now looking at the European continent as one of the main targets in strengthening international trade linkages.

"We will be exploring Europe," said CCCI president Melanie Ng, explaining that although the chamber already has several connections with business groups in different countries in Europe, a formal linkage is more commendable.

Ng, who said that 2018 will be a year for decisive action, emphasized that there is a need for the private sector to reinforce its linkage to the recovering European economy.

CCCI still has to identify which countries in Europe the chamber is going to explore for trade linkages this year, she added.

With over 6,000 products under the new European Union's Generalized System Preferences Plus (GSP+), the EU delegation recently urged businesses in the Visayas, including Cebu, to take a serious look at Europe as a good market to drive export growth.

European Delegation headed by Ambassador Franz Jessen said Europe's door is open for businesses in the Visayas to take advantage of the 510 million consumers in the EU.

As an economy, Jessen said EU is growing pretty well, and that it is therefore a good time for Visayan businesses to enter the European market with practically all the potential products under zero or minimal tariff.

EU is the Philippines' second largest export market, and it targets to overtake Japan as the country's number one export market before the end of this year, said Jessen.

In the first six months of this year, the Philippines export to Europe increased by 38 percent, way faster than the growth generated by Philippines' export to China.

A higher growth in the two-way trade is also expected, as EU moves to intensify linkage with the Philippines, the Ambassador added.

Cebu for instance can take advantage of several products that are in demand in EU, such as electrical machinery and equipment, machinery and mechanical appliances, animal or vegetable fats and oils, furniture; lamps and lighting fittings, edible fruits and nuts; vegetables, fruits, nuts and plants; among others.

"Europe is indeed rich and we have the resources to be generous. And we are generous," he told businessmen in his recent visit to Cebu.