The European Union and the Philippines have reached a substantial agreement on a free trade treaty, a significant development confirmed by Manila, with an official signing anticipated in 2027 following several years of negotiations.
European Commission President Ursula von der Leyen announced this achievement on X after a phone conversation with Philippine President Ferdinand Marcos Jr. She stated, “We have just reached an agreement on the free trade pact! This comes exactly three years after my visit to Manila to revive the negotiations,” emphasizing her intent to return to the archipelago next year for the treaty signing.
European Trade Commissioner Maros Sefcovic also hailed the agreement as a “progress and victory for both sides” on social media after a video call with Philippine Secretary for Trade and Industry Maria Cristina Aldeguer-Roque.
According to Sefcovic, this agreement strengthens ties with “one of the most dynamic economies in Southeast Asia,” providing significant growth potential beyond current trade, which nears €18 billion in goods and €10 billion in services.
Both parties have urged their negotiating teams to finalize the remaining details, but no specific date for the signing has been disclosed.
The strengthening of EU-Philippines relations occurs amid efforts by Brussels to diversify its trade partners and lessen the bloc’s reliance on the United States due to tariff policies implemented during the Trump administration. Since late last year and early this year, the EU has signed free trade agreements with Indonesia, India, and Australia, which had been sidelined for the past two decades. This adds to existing agreements in the region with Singapore, Vietnam, Japan, South Korea, and New Zealand, along with ongoing negotiations with Thailand.
