Substantial agreement on EU-Philippines trade deal

Maros Šefčovič, Commissioner for Trade and Economic Security, and Maria Cristina Aldeguer-Roque Philippine, Secretary of Trade and Industry, announced the substantial conclusion following their video call, putting the deal on a clear path towards its final conclusion in the coming months.

This agreement will unlock stronger trade and investment flows, by improving conditions for exporters, service suppliers and investors on both sides – reinforcing the EU's strategic engagement with a like-minded partner in the Indo-Pacific region.

At a time when both sides are working to diversify their economic relationships, the agreement will also help build trusted partnerships, stable and predictable trade rules, as well as resilient supply chains.

Bilateral trade between the EU and the Philippines has potential to grow well beyond current levels – totalling €17.6 billion in goods (2025) and €10.3 billion in services (2024).

The mutual benefits include:

• Elimination of tariffs on both sides and improved market access on both sides. With 113 million people, the Philippines represents a major market for EU exporters. The FTA will liberalise over 94% of tariff lines, covering more than 97% of bilateral trade:
• Key EU agrifood exports to the Philippines include meat products, such as pork and poultry, as well as dairy products and spirits.
• Better protection of intellectual property rights, including for a commercially meaningful list of EU Geographical Indications;
• Transparent rules on sanitary and phytosanitary measures and technical barriers to trade, which will facilitate trade and reduce costs for companies, while guaranteeing the respect of the highest standards;

The EU and the Philippines will now finalise the negotiations on the basis of the substantial agreement reached, including determining its implementation and finalising technical details.