25-5-2023 (Manila) Philippine President Ferdinand Romualdez Marcos expressed his support on Thursday for the resumption of negotiations on a Philippine-European Union (EU) free trade agreement (FTA). Marcos emphasized that his country is prepared to meet the “vital international obligations” set by the European bloc.
Speaking at a dinner with a delegation of European business leaders, Marcos stated, “I believe that we can all agree that the timing and conditions are now quite ripe for us to solidify the long-standing and historically beneficial trade relations through a bilateral Philippine-EU Free Trade Agreement.”
The President highlighted the potential benefits of a bilateral FTA for both the Philippines and the EU, urging European chambers of commerce operating in the Southeast Asian country to actively support the initiative and contribute towards a favorable outcome.
Marcos expressed optimism that a bilateral FTA could serve as a cornerstone for strengthening Philippine-EU relations in the coming decades. The first round of negotiations for the FTA initially took place in June 2016 in the Philippines.
