DFA welcomes resumption of PH-EU Free Trade Agreement

DFA welcomes resumption of ‘balanced, modern’ PH-EU Free Trade Agreement

/ 09:00 AM March 21, 2024

Philippines and the European Union-EU-20March2024

Philippine and European Union flags. INQUIRER.net stock images

MANILA, Philippines — The Department of Foreign Affairs (DFA) said on Thursday that it is looking forward to further coordination and dialogue in pursuit of a “comprehensive, balanced and modern” Philippines-European Union Free Trade Agreement (PH-EU FTA).

In a statement, the agency also said that it “welcomes” the resumption of negotiations for a PH-EU FTA, which was announced last March 18 during President Ferdinand “Bongbong” Marcos Jr.’s official visits to two EU countries.


READ: Marcos renews pitch for EU free trade deal


“During the visit of President Ferdinand R. Marcos, Jr. to Germany and the Czech Republic, the President emphasized the importance of the PH-EU FTA in achieving shared prosperity, stable economic growth and sustainable development not only for the Philippines, but also for the Indo-Pacific region,” the DFA statement read.

“The DFA appreciates the continued engagement of the European Commission on the formal talks for the FTA, following the successful conclusion of the stock-taking exercises conducted by working level experts from both PH and EU last September to December 2023,” it added.

READ: Philippines hopes to launch EU free trade negotiations ‘very soon’

Marcos, during his stay in Prague, sought support from the Czech government for the resumption of negotiations for a fair trade agreement.

“We seek the support of the Czech Republic for the resumption of the Philippines-European Union Free Trade Agreement negotiations,” he told Czech officials at the Czech-Philippine Business Forum at the Czernin Palace last March 16.

He also made a similar appeal two days prior, when he spoke at the Philippine-German Business Forum in Berlin.

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TAGS: European Union (EU), Trade

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