The Philippines is optimistic it can finalize a trade agreement with the economic giant, the European Union (EU), before the end of the current administration’s term.
In an interview on DAILY TRIBUNE’s Straight Talk, the country’s chief negotiator for international trade, Undersecretary Allan Gepty, shared updates on the revival of the Foreign Trade Agreement (FTA) with the EU following its suspension eight years ago.
The initial negotiations began in May 2016 but were halted in 2017 during the second round.
At the time, former President Rodrigo Duterte’s bloody war on drugs raised concerns, particularly over human rights violations.
“They [EU] decided not to engage with us for so many reasons, but we really lobbied and advocated for a resumption,” the Department of Trade and Industry (DTI) official said.
Negotiations resumed in March 2024. Talks formally restarted in October that year, followed by a second round in February this year, and a third round one week ago.
Deal before PBBM steps down
Gepty described the progress as “positive,” noting advancements in the negotiations.
“Our negotiators are focusing on provisions, the articles, and of course we also have to finish the negotiation on market access,” he said, adding that they aim to conclude the agreement under the administration of President Ferdinand Marcos Jr.
“By the progress we are making right now, I am confident we can conclude the negotiations,” he said.
Gepty traveled to Brussels last week for the third round of negotiations, which included five days of talks.
EU chief negotiator Dora Correia noted the favorable momentum for the deal, stressing the importance of upholding a rules-based global trade order amid complex geopolitical challenges.
The fourth round of negotiations is scheduled for October in Manila.
Gepty said this could become the country’s “most comprehensive FTA” once it is completed, as it would cover not only the usual core chapters in an FTA — such as customs procedures, goods, services, and investments — but also intellectual property, competition, government procurement and elements of trade and sustainable development. These would include provisions on labor, the environment and good governance, among others.