PH and Hungary to enhance bilateral trade - DFA

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PH and Hungary to enhance bilateral trade - DFA

Jeffrey Hernaez,

ABS-CBN News

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The Philippines and Hungary will enhance bilateral trade and investments with focus on agriculture, transportation, and renewable energy, according to Foreign Affairs Secretary Enrique Manalo.

Manalo issued the statement during a meeting with Hungarian Minister of Foreign Affairs and Trade Péter Szijjárto, who was in Manila for an official visit on June 13, 2024.

“We encouraged Hungary to look into investing in the Philippines in the areas of agriculture, ICT, digital technologies, and water technologies, as well as renewable energy, green metals, electrical vehicle manufacturing, and smart and high-tech light manufacturing,” said Manalo. 

Manalo also thanked Hungary for its support for the resumption of the PH-EU Free Trade Agreement negotiations.

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“During Hungary's upcoming presidency of the Council of the European Union, the Philippines is confident that the PH-EU FTA talks will gain further momentum,” Manalo said. 

“We are optimistic that it will also pave the way for a deeper collaboration between the EU, ASEAN and the Philippines in promoting respect for international law and enhancing joint initiatives in the areas of trade, investment, and climate change,” Manalo added. 

Manalo also announced the establishment of a Migrant Workers Office in Budapest, aimed at enhancing support for Filipino workers. 

Currently, there are around 16,000 Filipinos working and living in Germany, according to the DFA. 

“I am aware of the appreciation of Hungarians for the high- quality work provided by our workers and the positive contributions of Filipinos to Hungarian society,” said Manalo. 

The two high ranking officials also discussed regional and international issues including the 1982 United Nations Convention on the Law of the Sea. 

“I highlighted that any efforts towards peace and stability in the South China Sea must be anchored on international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS) and the 2016 Arbitral Award, and must respect the legitimate interests and legally settled rights of every state,” said Manalo.

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