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EU, Philippines Set to Finalize Free Trade Deal After 3-Year Push
(MENAFN) The European Union and the Philippines are on the verge of wrapping up negotiations on a free trade agreement designed to deepen economic ties between the two sides.
European Commission President Ursula von der Leyen and Philippine President Ferdinand R. Marcos Jr. reviewed the state of the talks during a phone call late Monday.
The European Commission noted the milestone arrives three years after von der Leyen traveled to Manila in 2023 to reignite the stalled trade talks.
Von der Leyen praised the breakthrough and credited the negotiating teams, led by EU Commissioner for Trade and Economic Security Maros Sefcovic, for driving the process forward.
Both leaders agreed the deal, once finalized, will open new business avenues, draw fresh investment and generate jobs on both sides. They also stressed the importance of teaming up with like-minded partners globally to preserve open, fair and predictable trade amid today's geopolitical turbulence.
According to the Commission, the agreement will additionally advance shared goals around sustainable development and the wider push toward clean energy and digital transformation.
Von der Leyen offered her congratulations to Marcos on the Philippines' current chairmanship of the Association of Southeast Asian Nations, and reaffirmed the EU's determination to pursue equally ambitious trade agreements elsewhere in Southeast Asia.
She framed the pending deal as a meaningful signal ahead of next year's 50th anniversary of EU-ASEAN relations.
Von der Leyen said she anticipates visiting the Philippines in 2027 to formally sign the trade agreement. She also voiced firm solidarity with Manila against aggressive maritime claims in the region and reaffirmed the bloc's ongoing commitment to regional security support.
European Commission President Ursula von der Leyen and Philippine President Ferdinand R. Marcos Jr. reviewed the state of the talks during a phone call late Monday.
The European Commission noted the milestone arrives three years after von der Leyen traveled to Manila in 2023 to reignite the stalled trade talks.
Von der Leyen praised the breakthrough and credited the negotiating teams, led by EU Commissioner for Trade and Economic Security Maros Sefcovic, for driving the process forward.
Both leaders agreed the deal, once finalized, will open new business avenues, draw fresh investment and generate jobs on both sides. They also stressed the importance of teaming up with like-minded partners globally to preserve open, fair and predictable trade amid today's geopolitical turbulence.
According to the Commission, the agreement will additionally advance shared goals around sustainable development and the wider push toward clean energy and digital transformation.
Von der Leyen offered her congratulations to Marcos on the Philippines' current chairmanship of the Association of Southeast Asian Nations, and reaffirmed the EU's determination to pursue equally ambitious trade agreements elsewhere in Southeast Asia.
She framed the pending deal as a meaningful signal ahead of next year's 50th anniversary of EU-ASEAN relations.
Von der Leyen said she anticipates visiting the Philippines in 2027 to formally sign the trade agreement. She also voiced firm solidarity with Manila against aggressive maritime claims in the region and reaffirmed the bloc's ongoing commitment to regional security support.
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