EU reaches initial free trade deal with Philippines in pivot to Asia
The pact would remove or cut tariffs on more than 94% of product categories and expand access for businesses, officials said.
- On Tuesday, European Commission President Ursula von der Leyen and Philippine President Ferdinand Marcos agreed on a free-trade deal, marking a significant step forward in negotiations.
- The Philippines is only the third Association of Southeast Asian Nations member country to conclude a bilateral free trade deal with the European Union, after Singapore and Vietnam.
- Both sides aim to deepen trade and investment ties, offering fair rules and predictability for businesses, farmers, and manufacturers amid global economic volatility.
- Philippine Trade Secretary Cristina Roque and European Commissioner for Trade Maros Sefcovic instructed negotiators to finalize the agreement as soon as possible, targeting formal conclusion in the coming months.
- The European Chamber welcomed the deal as a "historic first" for economic relations, with President Diana Edralin noting the framework establishes a predictable foundation for future global investment.
101 Articles
101 Articles
The EU moves closer to free trade deal with Philippines amid global tensions
The European Union and the Philippines have reached substantial agreement on a new free trade deal. European Commission President Ursula von der Leyen announced the preliminary agreement Tuesday, with further negotiations needed for a full deal. EU trade negotiator Maroš…
Can the Philippines Help Accelerate the EU’s Pivot to Asia?
The European Union and the Philippines have reached an initial agreement on the main elements of a free trade deal, marking another step in Brussels’ effort to deepen economic ties with Southeast Asia. EU Commissioner for Trade and Economic Security Maros Sefcovic said the key parameters had been approved at the political level and would […]
The President of the European Commission, Ursula von der Leyen, announced the advance in social network X, after a telephone conversation held on Monday with Philippine President Ferdinand Marcos Jr.
Deutsche Welle
Customs duties will largely fall, public contracts will be opened and supply chains strengthened. The contract will be formally signed in the coming months.
Coverage Details
Bias Distribution
- 37% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
