By Beatriz Marie D. Cruz, Senior Reporter
THE PHILIPPINES and the European Union (EU) have reached a “substantial agreement” on a free trade agreement (FTA) targeted for signing in 2027, as both sides seek fairer trade rules and more resilient supply chains amid heightened trade tensions and higher US tariffs.
European Commission (EC) President Ursula von der Leyen said in a post on X on Tuesday that she spoke with Philippine President Ferdinand R. Marcos, Jr. and that they have agreed on the free trade deal.
“Given the challenging geopolitical and geoeconomic context, the two leaders also underlined the importance of working with likeminded partners across the world to ensure open, fair and predictable trade,” according to a readout of the call between Ms. von der Leyen and Mr. Marcos that was posted on the EC website.
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