EU and Philippines reach substantial agreement on free trade deal
The European Union and the Philippines have reached a substantial preliminary agreement on a new free trade deal intended to deepen bilateral economic ties and strengthen supply chains. Negotiators Maroš Šefčovič and Philippine Trade Secretary María Cristina Aldeguer-Roque framed the pact as a modern partnership to expand opportunities across roughly €30 billion of annual trade between the EU and the 115 million-strong Philippines. The agreement, which must be finalized through further talks and ratified by parliaments on both sides, targets sectors including electronics, aircraft, pork, pharmaceuticals, semiconductors and industrial machinery.
EU-Philippines preliminary deal could boost nearly €30 billion in annual trade
Context
The EU is seeking new trade links amid tensions with China, Russia and the United States. The Philippines has recent pacts with Vietnam and Singapore and now seeks closer EU ties; negotiators expect finalization within a year or two…
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