Substantial agreement on EU-Philippines trade deal

Today, the EU and the Philippines reached substantial agreement in their negotiations for a Free Trade Agreement (FTA), envisaged to deepen economic ties between the EU and another strategic, fast-growing partner in Southeast Asia. 

Maros Šefčovič, Commissioner for Trade and Economic Security, and Maria Cristina Aldeguer-Roque Philippine, Secretary of Trade and Industry, announced the substantial conclusion following their video call, putting the deal on a clear path towards its final conclusion in the coming months.

This agreement will unlock stronger trade and investment flows, by improving conditions for exporters, service suppliers and investors on both sides – reinforcing the EU's strategic engagement with a like-minded partner in the Indo-Pacific region.

At a time when both sides are working to diversify their economic relationships, the agreement will also help build trusted partnerships, stable and predictable trade rules, as well as resilient supply chains.

Bilateral trade between the EU and the Philippines has potential to grow well beyond current levels – totalling €17.6 billion in goods (2025) and €10.3 billion in services (2024).