Trust, Trade, and Values: The deepening EU-Philippine economic partnership

This week, representatives of select European companies are in Manila for the annual EU-ASEAN Business Mission.

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They will hold high-level meetings with National Government leaders to discuss ways to further strengthen business and economic ties with the Philippines.

The Business Mission is happening just three months after the Philippines and the European Union concluded the third round of Free Trade Agreement (FTA) negotiations, which reaffirm their shared commitment to modern and inclusive trade. That round covered digital trade, energy, sustainable development, and government procurement — marking one of the most comprehensive trade efforts undertaken by the Philippines.

The FTA is seen as a key pillar of the Philippine trade agenda. It is expected to build on the gains of the EU GSP+ scheme, which allows the Philippines to export over 6,200 products to the EU market tariff-free. The GSP+ also supports broader development goals by encouraging progress on 27 international conventions covering human rights, labor standards, environmental protection, and good governance. By moving toward an FTA, the Philippines aims to deepen this partnership and create a more stable, forward-looking trade environment that supports inclusive growth and long-term investment.