Senator Loren Legarda(File photo) MANILA-Senate President Pro Tempore Loren Legarda on Wednesday cited the significant gains of the country's economy since the free trade agreement (FTA) with the European Free Trade Association (EFTA) in the last five years. Legarda, chair of the Committee on Foreign Relations, said the Philippines has maintained its strong foothold in the European market since the enforcement of EFTA in 2018. EFTA states are Switzerland, Norway, Iceland, and Liechstenstein. "Given the current developments with our cooperation with EFTA states, I am confident that the partnership would be beneficial to our economy. The preference utilization rate of the Philippines continues to improve, from 30 percent in 2019 to 31 percent in 2020 as per the Department of Trade and Industry (DTI)," Legarda said in a statement. From 2018 up to the third quarter of 2022, the Department of Trade and Industry (DTI) said the Investment Promotion Agencies (IPA)-approved Swiss
Senator Loren Legarda(File photo) MANILA-Senate President Pro Tempore Loren Legarda on Wednesday cited the significant gains of the country's economy since the free trade agreement (FTA) with the European Free Trade Association (EFTA) in the last five years. Legarda, chair of the Committee on Foreign Relations, said the Philippines has maintained its strong foothold in the European market since the enforcement of EFTA in 2018. EFTA states are Switzerland, Norway, Iceland, and Liechstenstein. "Given the current developments with our cooperation with EFTA states, I am confident that the partnership would be beneficial to our economy. The preference utilization rate of the Philippines continues to improve, from 30 percent in 2019 to 31 percent in 2020 as per the Department of Trade and Industry (DTI)," Legarda said in a statement. From 2018 up to the third quarter of 2022, the Department of Trade and Industry (DTI) said the Investment Promotion Agencies (IPA)-approved Swiss
is growing at a CAGR of 6.9% during the forecast period of 2018 to 2025.
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