European businesses in Taiwan looking to expand in PH: ECCP

European businesses in Taiwan are looking at expanding into the Philippines and the possible recruitment of Filipino talent given the prevailing geopolitical tensions with mainland China.

According to European Chamber of Commerce of the Philippines (ECCP) Executive Director Florian Gottein, a European Chamber of Commerce of Taiwan delegation flew to the Philippines earlier this month to scope possible ventures.

“They’re also looking to the Philippines for different reasons, obviously, because of the geopolitical situation as well. They are also looking into microelectronics, semiconductors in particular,” he said in a chance interview in Makati City.

for investments... Foreign investment means new factories, new operations, that means jobs.”

The Senate earlier ratified the country’s participation in the RCEP, a free trade agreement among the 10 members of the Association of Southeast Asian Nations (ASEAN), and China, Japan, South Korea, Australia and New Zealand.

RCEP removes up to 90 percent of tariffs in the trading block

Gottein said a number of the firms are also looking to expand and diversify outside mainland China, with the Philippines being one of the possible host countries.

“Some of the companies want to explore the Philippines because even some of their members have operations in mainland China. They’re also diversifying out of it,” he said.

“I mean, I’m not saying that they are now shutting down ev- erything in China and Taiwan and they’re looking at countries such as the Philippines to completely relocate. They want to diversify given the overall situation,” he added.

China and self-ruled Taiwan are currently facing tensions, with Beijing pushing for unification. Beijing earlier this month launched military drills around Taiwan, which Taiwanese President Tsai Ing-wen denounced.

Earlier this month Chinese Ambassador to the Philippines Huang Xilian said that if the Philippines cared for the 150,000 overseas Filipino workers (OFWs) in Taiwan, it would oppose ‘Taiwan independence’rather than giving the United States access to military bases near the Taiwan strait.

For his part, President Ferdinand “Bongbong” Marcos Jr. admitted that he was surprised by the recent remarks, but said that this could be due to the “difference of language” and that the statements may have been misinterpreted.

Gottein said some of the businesses looking to expand already had a footprint in the Philippines, while some are looking to attract Filipino talent to Taiwan, which