The Philippine Chamber of Commerce and Industry (PCCI) and the Federation of Philippine Industries (FPI) welcomed the conclusion of Philippines-European Union free trade negotiations, saying the deal could expand market access, boost exports and attract investments into Philippine manufacturing.

The agreement would give Philippine businesses greater access to the EU market of nearly 450 million consumers, while potentially strengthening the country’s role as a sourcing and production base as European companies diversify their supply chains.

PCCI President Perry A. Ferrer called the conclusion a significant milestone for the country’s trade and investment agenda after years of negotiations covering intellectual property, sustainability, labor and human rights, and environmental and carbon-emission requirements.

“We are elated with this development. Certainly, this is a meaningful feat for the Philippines as we are the third country to conclude an FTA with the EU," Ferrer said.

PCCI said the agreement could create new opportunities for exporters, attract investments and improve the competitiveness of local industries, particularly small and medium enterprises.

Ferrer urged businesses to prepare for the agreement while calling for swift action toward ratification and implementation.

“The timely ratification of the agreement will be crucial in unlocking its full benefits and ensuring that Philippine businesses can compete more effectively in the European market,” he said.

For FPI, the agreement could provide a pathway for manufacturing expansion and deeper participation in global value chains.

FPI Chairperson Elizabeth H. Lee said stronger access to European markets could generate wider economic activity as increased production creates demand for transport, logistics, warehousing, packaging, utilities and local suppliers.

“Manufacturing creates powerful multiplier effects across the economy, and stronger export growth can translate into more jobs, more investments, and a more competitive industrial sector,” Lee said.

She said attracting foreign investment would be critical to turning market access into longer-term industrial gains.

“The real prize is not just market access. It is attracting the investments that create factories, transfer technology, and generate quality jobs for Filipinos,” Lee said.

Lee added that European requirements on quality, safety, traceability and sustainability could encourage Philippine companies to upgrade their capabilities and productivity.

“The result is a stronger, more modern manufacturing sector capable of competing not only in Europe, but in markets around the world,” she said.

PCCI said it will support government information and capacity-building efforts to help businesses, particularly MSMEs, understand the agreement and maximize the opportunities it creates.