Philippines-EU free trade agreement seen next year

MANILA, Philippines - The Philippines and the European Union are expected to sign a free trade agreement (FTA) next year after the conclusion of negotiations.

"We just agreed on a EU-Philippine trade deal!" European Commission President Ursula von der Leyen said on X yesterday after meeting with President Marcos. "This comes just three years after my visit to Manila to relaunch the negotiations," she added.

Trade Secretary Cristina Roque and European Commissioner for Trade and Economic Security Maros Sefcovic also announced the development in a joint statement.

"It is essentially concluded," EU Ambassador Massimo Santoro told reporters covering the ASEAN-EU Business Summit, referring to the trade deal.

He said there is still some work to be finalized on residual elements and the agreement would need to go through legal scrubbing to make it ready for a formal launch.