EU Commission President Signals Relaunch Negotiations for EU-PH Free Trade Agreement

31 July 2023 – Over 100 high-level representatives from business, diplomatic corps, and media attended the exclusive meeting with EU Commission President, Ursula von der Leyen. In almost 60 years of bilateral relations between the PH-EU, this is the first time that an EU Commission President made an official trip to the country. Philippines Department of Trade and Industry Secretary Alfredo Pascual and the Philippine Ambassador to Belgium, Luxembourg, and the European Union, H.E. Jaime Victor Ledda were also present.

With the theme of “A New Era of EU-Philippines Relations: Driven by Stronger Trade and Investment for a Sustainable Future”. The meeting kicked off with a panel discussion between Mr. Edgar O. Chua (MBC), Mr. Paulo Duarte (ECCP President), and Mr. Pavit Ramachandran (Asian Development Bank Country Director).

With the Philippines’ favorable and positive economic indicators, the panelists emphasized blended financing, retention of the Generalized Scheme of Preferences, reviving negotiations for the EU-PH Free Trade Agreement, and passage of the Ease of Doing Business bill as priorities for the Philippines. “There’s a strong sense of convergence now in terms of the mission statement from the EU and the Development Bank, in terms of mobilizing climate finance, [and] in terms of private sector mobilization.” said Mr. Ramachandran

“We cannot imagine a more exciting time to collaborate on these areas of shared interests and priorities for the continued progress of our economy and development.” MBC Treasurer Rizalina Mantaring said.

In her message to the business community, President Ursula von der Leyen reiterated the importance of strengthening bilateral cooperation between the EU and the Philippines. She also listed international security, trade, and investments as the top three areas of collaboration between the EU and the Philippines.

“I believe, like President Marcos, that the timing and the conditions are just right for us now to solidify our bilateral trade relations and that is why we have taken the decision to relaunch our negotiations for a free trade agreement between the Philippines and the European Union.” President von der Leyen announced. The last round of EU-PH FTA negotiations was in 2017.

This event was organized in partnership with the European Chamber of Commerce and the European Union Delegation in the Philippines.

MBC’s Global Programs aims to convene government, business, diplomatic corps, and other stakeholders both locally and internationally to promote bilateral business opportunities, ideas, and policies that support an innovative and competitive economy.