The Philippines and the European Union (EU) convened the Third Meeting of the Sub-Committee on Development Cooperation in Brussels, Belgium on November 21, 2023. At the meeting, both the Philippines and EU emphasized their shared interests and values, as well as their commitment to continue their partnership through development cooperation under the EU-Philippines Partnership and Cooperation Agreement.
The Sub-Committee Meeting was formally opened by the Head of Unit South and South-East Asia from the European Commission’s DG International Partnerships (DG INTPA), Honourable Mario Ronconi; and the Undersecretary of the International Financial Group (IFG) of the Department of Finance (DOF), Honourable Maria Edita Tan, along with a video message from the Secretary of Finance, Honourable Benjamin E. Diokno.
The Philippine Government was represented in-person by officials from the DOF; Philippine Embassy in Brussels; Department of Trade and Industry, through the Trade Attache; and the Department of Science and Technology – Advanced Science and Technology Institute. Other agencies of the Philippine Government which joined virtually were from the National Economic and Development Authority; Department of Foreign Affairs; Department of Environment and Natural Resources; Department of Science and Technology; Department of Trade and Industry; Department of Information and Communication Technology; Department of Transportation – Maritime Industry Authority; Department of Energy Bangsamoro Autonomous Region in Muslim Mindanao; Mindanao Development Authority; Office of the Presidential Adviser on the Peace Process, Reconciliation and Unity; Supreme Court; Department of Justice; Department of the Interior and Local Government; Philippine Space Agency; and the Commission on Human Rights.
On the other hand, the EU Delegation to the Philippines, the European Commission Department for International Partnerships, Department for Communications Networks, Content and Technology and Department for Defence Industry and Space, European Union External Action Service and European Investment Bank joined for this dialogue.
The Sub-Committee commits to the continued and strengthened implementation of the EU’s various development programmes on peace and socioeconomic development, particularly in Mindanao, and good governance and rule of law to achieve successful results. The EU also highlighted its new Annual Action Plan (AAP) as part of its Multi-annual Indicative Program (MIP) 2021-2027 addressing peace and development in Mindanao, and enabling justice and rule of law, civil society organizations, and human rights in the Philippines. The EU and Philippines also exchanged on the support to seafarers.
Following the successful hosting of the Inaugural Global Gateway Forum attended by Finance Secretary Benjamin E. Diokno in October 2023, the EU also brought up the Global Gateway for digital and green cooperation, together with regional cooperation with ASEAN. In particular, under the Global Gateway, the launch of the Copernicus Philippines early this year, the signature of the Administrative Arrangement with the Philippines Space Agency on earth observation and the preparation of the Digital Economy Package and discussed possible future cooperation on sustainable use of critical raw materials with the Philippines.
The meeting also tackled next steps on the Green Economy Programme in the Philippines, which was signed last October 23, 2023 and the immediate next steps being led by the Department of Environment and Natural Resources.
Both sides also discussed sustainable investments, with the Philippines elaborating on its investment priorities and the topic of sustainable finance along with green bonds, while the EU deliberated on the EU Global Green Bonds Initiative, the Fund for Sustainable Development Plus (EFSD+) including blending and guarantees focusing on green, digital connectivity and water and its plan to work together with the European International Bank.