Joint press statement by Secretary Roque and Commissioner Šefčovič

The European Union and the Philippines reached substantial agreement on a Free Trade Agreement (FTA), marking a significant milestone for both sides. European Commissioner for Trade and Economic Security Maroš Šefčovič and Philippine Secretary of Trade and Industry Ma. Cristina A. Roque announced the breakthrough following a video call, setting the deal on a clear path towards its formal conclusion in the coming months.

Both welcomed the historic outcome, which will deepen bilateral trade and investment ties, making them more diversified and resilient. The agreement also sends a clear signal of reinforced engagement between the EU and the Philippines, anchored in their common interest in an open, inclusive, and rules-based international order in the current volatile context.

In practical terms, both sides highlighted that the FTA will deliver:

• New opportunities for businesses, including MSMEs, as well as for farmers, manufacturers, and consumers on both sides;
• Stronger, more diversified supply chains, critical at a moment when resilience has become a strategic priority;
• Fair rules and real predictability, underpinned by a shared commitment to a more secure and stable global economy.

Secretary Roque and Commissioner Šefčovič noted that this is a forward-looking partnership, built on trust and mutual benefit. They have instructed their negotiating teams to finalize the agreement as soon as possible.