Politics

Renewed Efforts Underway for EU-Philippines Free Trade Deal to Boost Strategic Ties

Published

2 years ago

August 1, 2023

The European Union and the Philippines have announced plans to restart negotiations for an ambitious free trade agreement, according to a press release from the European Commission on July 31st, 2023. This signals a renewed effort to strengthen economic and political ties between the strategic Indo-Pacific partners.

According to a joint statement, the EU and the Philippines will begin a bilateral “scoping process” to evaluate if they share a common vision for the comprehensive FTA. If successful, and after consulting EU member states, formal negotiations could resume after being stalled since 2017.

“The Philippines is a key partner for us in the Indo-Pacific region, and with the launch of this scoping process we are paving the way to taking our partnership to the next level,” said European Commission President Ursula von der Leyen.

Experts say the move aligns with the EU’s 2021 Indo-Pacific Strategy and growing focus on deepening trade relations in Southeast Asia, a fast-growing economic hub. It follows the recent restart of FTA talks between the EU and Thailand this year.

According to 2021 data, EU-Philippines trade in goods totalled €18.4 billion, while trade in services reached €4.7 billion. The EU ranked as the Philippines’ 4th largest trade partner, and the Philippines was the EU’s 7th largest trade partner in the ASEAN region.

The proposed FTA would likely include reduced trade barriers, streamlined customs procedures, intellectual property protections, sustainable development measures, and climate commitments.

With its abundant reserves of critical minerals, alongside investments in renewable energy, analysts say the Philippines offers strategic opportunities for EU companies and sustainability initiatives as part of the green transition.

While hurdles remain, restarting EU-Philippines FTA negotiations signals a mutual desire for closer economic integration and strategic alignment between the long-time partners.

Author

Daniela Daecher

Daniela Daecher is a twenty-something bookworm and coffee addict with a passion for geeking out over sci fi, tv, movies, and books. In 2013 she completed her BA in English with a specialization in Linguistics. In 2014 she completed her MA in Linguistics, focusing on the relationship between language and communication in written form. She currently lives in Munich, Germany.

View all posts

Politics

Ukraine: Joint press release following the 10th meeting of the EU-Ukraine Association Council

Published

16 hours ago

April 10, 2025

Guest Author

ukraine:-joint-press-release-following-the-10th-meeting-of-the-eu-ukraine-association-council

DISCLAIMER OPINIONS: The opinions of the authors or reproduced in the articles are the ones of those stating them and it is their own responsibility. Should you find any incorrections you can always contact the newsdesk to seek a correction or right of replay.

DISCLAIMER TRANSLATIONS: All articles in this site are published in English. The translated versions are done through an automated process known as neural translations. If in doubt, always refer to the original article. Thank you for understanding.

DISCLAIMER PHOTOS: We mostly used photos images that are readily available online, from free sources, or from the people promoting the news. If by any chance it happens that we have used one of your copyrighted photos, please do not hesitate to contact us and we will take it down without question. We do not make profits as this is a not for profit project to give voice to the voiceless while giving them a platform to be informed also of general news, and it is completely free.