Bongbong Marcos eyes PH-EU free trade deal by 2027

MANILA, Philippines — President Ferdinand Marcos Jr. hopes the Philippines-European Union Free Trade Agreement (PH-EU FTA) will be in place by 2027,  said the Palace on Tuesday.

Negotiations for a PH-EU FTA began in 2015 during the term of the late President Benigno Aquino III, but stalled when former President Rodrigo Duterte took office. Duterte’s bloody war on drugs sparked international controversy and soured diplomatic relations with the West.

READ: EU and Philippines relaunch free trade talks

“We see the FTA as a crucial step in enhancing the trade partnership between the Philippines and the EU,” said Marcos in a speech delivered by Executive Secretary Lucas Bersamin at the 2024 European-Philippines Business Dialogue and European Investors’ Night in Makati City on Monday.

“We look forward to negotiations being finalized by 2027 and to elevating trade and investment flows through a comprehensive agreement that includes advanced provisions for digital trade and intellectual property rights,” Marcos added.

Discussions of a PH-EU FTA resumed in March when Marcos visited Germany and the Czech Republic.

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

During the event, Marcos also touted to European investors possible areas of investment through public-private partnerships (PPPs).

“We also offer a range of investment opportunities for PPPs under our Build Better More program, which features 185 major infrastructure projects worth US$161 billion,” said Marcos.