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Citing trade possibilities, Sweden reopens Manila Embassy

Philippine Trade and Industry Undersecretary Nora Terrado (third from left) and Swedish
Minister of Enterprise and Innovation Mikael Damberg (second from right) lead the ribbon-cutting ceremonies of the newly reopened Embassy of Sweden in Bonifacio Global
City, Taguig. Joining them are Transportation Undersecretary Raoul Creencia (far left), Taguig Rep. Pia Cayetano, Foreign Affairs Assistant Secretary Ma. Cleofe Natividad and Swedish Ambassador-Designate Harald Fries.

Seeing great possibilities for trade cooperation with the Philippines, Sweden recently reopened its embassy in Manila, eight years after it was closed in 2008 due to budget cuts of its government caused by the global crisis.

Last November, a high-level inauguration ceremony, headed by Swedish Minister for Enterprise and Innovation, Mikael Damberg, took place at Del Rosario Law Center, Bonifacio Global City, Taguig. Also present at the ceremony were representatives of Department of Foreign Affairs, Department of Trade and Industry (DTI) and top executives of Swedish firms and businesses.

As pointed out by Swedish Ambassador Harald Fries, the reopening of the embassy marks a new era of a strengthened Swede-Philippine relationships, as well as a deeper and enhanced commitment with the Philippines in the field of trade and people-to-people engagement in recognition of the astonishing economic development of the Philippines over the past several years.

“We have seen Sweden’s interest in the country as we welcome their largest delegations from various Swedish companies,” said Trade and Industry Undersecretary Nora Terrado.

Over 70 business delegates from 28 Swedish companies arrived in the country as part of the biggest Swedish business delegation ever brought to the country.

“The Swedish are known for their quality products and innovative solutions. We look forward to future partnership with them and heightened trade relations that will generate more jobs for Filipinos,” Terrado added.

According to the DTI, Sweden ranked as the Philippines’ 43rd trading partner (out of 223), 59th export market (out of 211), and 36th import supplier (out of 203) in 2015. Total bilateral trade amounted to US$143.40 million.