European Commission President Ursula von der Leyen said on Tuesday that she had spoken to Philippine President Ferdinand Marcos Jr. and that they had just agreed on a free trade deal, Reuters reported.
European Commissioner for Trade and Economic Security Maroš Šefčovič and Philippine Trade Secretary Ma. Cristina Roque said in a joint statement the substantial agreement reached on a free-trade deal puts negotiations on a clear path toward its formal conclusion in the coming months.
Ms. Roque and Mr. Šefčovič said they have instructed negotiators to finalize the deal as soon as possible.
Both sides said the deal will deepen bilateral trade and investment ties, making them more diversified and resilient amid global volatility.
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