MANILA -Philippines is keen on improving its trade relations with the Netherlands as both countries seek to explore greater cooperation in various industries, including infrastructure and agriculture.
The Department of Trade and Industry (DTI) on Monday said Trade Secretary Alfredo E. Pascual and Netherlands Deputy Minister Hanneke Schuiling met last week at The Hague.
“There is a need to maintain this momentum as this can work in strengthening the cooperation and commitment from both our countries and put emphasis on trade and investments, water management, maritime matters, agriculture, and science and technology,” Pascual told Schuiling.
He was referring to the first bilateral consultations conducted between the two countries in 2020 after 69 years.
The Philippine delegation also reminded the Dutch side of the “coordinating authorities or focal points” as outlined in Article 4 of their 1995 Memorandum of Understanding on Economic and Technological Cooperation.
The agreement cites cooperation in various areas including trade and investments, agriculture, transport and communication, energy, the services sector, environmental technology, flood control and land reclamation.
According to the Philippines Statistics Authority (PSA), trade between the two countries reached $3.72 billion in 2022, accounting for 20.9 percent of the $17.82-billion trade between the Philippines and the whole of the European Union.
Netherlands ranked as the country’s 13th largest trading partner, 9th biggest export market, and 22nd biggest import supplier in 2022.