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On the prospects of job opportunities for highly-skilled Filipinos in EFTA, Lopez noted that the agreement allows temporary stay of the following service suppliers, without the need for an economic needs test: (1) executives, managers and specialists (who are intra-corporate transfers), (2) business visitors, (3) contractual service suppliers, and (4) installers of service industrial machinery.
Before I proceed, allow me to provide a brief background on the rationale for our engagement with EFTA.
Recognising that better outcomes can be achieved by joining forces, the EFTA States have used EFTA as a platform for pursuing free trade agreements (FTAs).
EFTA is not the first trade partner to take note of the unlevel playing field risk.
EFTA as a trade partnerWith a combined population of around 13 million, the EFTA States are the world's 11th largest merchandise trader, as well as significant actors in the areas of trade in services and foreign direct investment.
Both the sides, exchanged information on the economic situation in their countries and discussed trade and investment flows between EFTA and Pakistan and their respective approaches to their preferential trade relations with third counties.
Both sides have agreed that a recommendation to conclude a Joint Declaration on Cooperation between EFTA states and Pakistan will be submitted to EFTA Ministers at their next meeting on 28th June 2012, in view of a possible signing of such declaration at the following EFTA Ministerial meeting on 26th November, 2012 in Geneva.
The Jordan Chamber of Industry will organize on Thursday a workshop in cooperation with the Jordan Chamber of Commerce on the sidelines of the meetings to shed more light on the free trade agreement between Jordan and EFTA and review the possibility for Jordanian products to enter EFTA markets.
The FTA was signed on the sidelines of the EFTA ministerial meeting.
It will enable Korean products to further advance into the EFTA market by achieving a high level of liberalization, in addition to giving realistic consideration to the degree of economic development and differences in tariff rates between the two sides.
Singapore Minister for Trade and Industry George Yeo sealed the pact with his counterparts from the four EFTA member states -- Iceland, Liechtenstein, Norway and Switzerland -- in Egilsstadir, Iceland, on Wednesday, the ministry said in a statement.
I will discuss coverage of EBT programs under the EFTA, which the Board is responsible for implementing; address the states' concern that the costs of complying with Regulation E could impede the development of EBT programs; and make some comments about legislative proposals.
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