MANILA, Philippines — President Ferdinand Marcos Jr. expressed optimism following the substantial conclusion of negotiations for a landmark bilateral free trade agreement (FTA) between the Philippines and the European Union.
The Philippine leader held a phone call on Tuesday, September 22, with European Commission President Ursula von der Leyen to mark the major progress in the bilateral trade talks.
In an official statement, President Marcos highlighted the economic significance of reaching the milestone in the country’s partnership with the EU:
“We look forward to the formal conclusion and eventual signing of this landmark agreement.”
“The agreement will bring more opportunities for business and investment, create more jobs and support stronger and more diversified supply chains,” Marcos said.
The President emphasized his administration’s goal to ensure that the economic benefits of the deal directly aid local stakeholders and emerging industries:
“We will work to ensure that these opportunities reach our Filipino farmers, manufacturers, consumers and MSMEs (micro, small, and medium enterprises), while opening new possibilities for the Philippines in AI (artificial intelligence), digital technologies and other important sectors,” Marcos added.
Both heads of state reaffirmed that the trade deal reflects a robust bilateral partnership and a shared dedication to a rules-based, open, and mutually beneficial economic order. Von der Leyen also underscored the value of stable and predictable economic partners like the Philippines for the European market.
Bilateral negotiations for the free trade pact originally restarted in 2023 following von der Leyen’s official visit to Manila.