EU, Philippines Advance Trade Deal to Strengthen Economic Cooperation
European Commission President Ursula von der Leyen and Philippine President Ferdinand R. Marcos Jr. reviewed the progress of the negotiations during a telephone conversation held late Monday, according to reports.
The European Commission said the development follows efforts to revive trade discussions, launched three years after von der Leyen traveled to Manila in 2023 to restart negotiations.
Von der Leyen expressed support for the progress achieved and praised the negotiating teams headed by EU Commissioner for Trade and Economic Security Maros Sefcovic.
The proposed agreement is expected to open additional commercial opportunities, encourage investment and contribute to job creation in both markets, according to the two leaders' assessment.
They also emphasized the importance of working alongside partners that share similar principles to preserve trade that remains open, fair and predictable despite ongoing geopolitical uncertainties.
Beyond economic cooperation, the agreement is intended to advance common objectives related to sustainable development, environmental transformation and digital modernization.
During the conversation, von der Leyen also congratulated Marcos on the Philippines assuming the chairmanship of the Association of Southeast Asian Nations.
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