13 May 2025 – European Union (EU) Ambassador to the Philippines H.E. Massimo Santoro expressed his support to sustain the momentum of negotiations for an EU-Philippines bilateral Free Trade Agreement (FTA). Initially paused in 2017, the talks resumed in October 2024 and February 2025, with expectations for further progress to be made in the next round of discussion set to happen in June of this year in Brussels.

“In the FTA negotiation, the EU and the Philippines share the common objective of an ambitious, balanced and comprehensive FTA that brings our trade and investment relationship to a new level, generates jobs and promotes economic growth. Speaking for the EU, we want an agreement that provides new market access opportunities not only for merchandise trade, but also for services and investment, and government procurement,” Ambassador Santoro said.

Ambassador Santoro was the latest guest speaker for MBC’s Foreign Leaders Series and he explained that the global landscape of the FTA negotiations today is far from what it was in 2017, especially considering the impact of the COVID-19 pandemic and geopolitical developments in recent years, including Russia’s invasion of Ukraine, the crisis in the Middle East, and Trump’s tariff policy. Given this ever-evolving environment, the EU Ambassador underscored the importance of ensuring stable, diversified, and resilient supply chains.

“Unilatreal and unjustified tariffs negatively impact the global economy, raise prices for consumers, increase costs and uncertainty for businesses, and disrupt supply chains… In the end, instability and uncertainty affect all economies – directly or indirectly,” warned the EU Ambassador.

While FTA negotiations are underway, the EU remains committed to supporting the Philippines in its efforts toward sustainable development and good governance through the Generalised Scheme of Preferences Plus (GSP+), a special incentive arrangement in the form of zero percent duties or tariffs, and the Global Gateway strategy, which aims to encourage smart, clean, and secure connections in digital, energy, and transport sectors in EU’s partner countries.