ECCP: PH-EU trade talks too slow

The European Chamber of Commerce of the Philippines (ECCP) is pushing the government to accelerate negotiations for a free trade agreement (FTA) with the European Union (EU) as it warns of “severe” impact on its key exports if no deal is reached by the end of 2027.

- By DEXTER BARRO II

In its 2025 Advocacy Papers, the ECCP said there is a clear urgency to finalize the FTA with the scheduled expiration of the Philippines’ utilization of the EU’s Generalized Scheme of Preferences Plus (GSP+) in December 2027.

“Concluding the agreement on time would safeguard the benefits of GSP+ while amplifying them through expanded trade, new investments, and stronger integration into global supply chains,” the report read.

“Delay, by contrast, would risk billions in exports and squander a unique opportunity,” it added.

The Philippines is one of only eight countries that are benefitting from the GSP+ arrangement, which allows it to export 6,274 products to the EU without any tariffs.

In exchange, the country must uphold international conventions on human rights, labor rights, environmental protection and climate change, and good governance.

In 2024, the GSP+ allowed approximately $2.57 billion worth of Philippine exports to enter the EU, covering more than a quarter of the country’s total exports.

The utilization rate last year reached 80 percent, the highest on record. The top beneficiaries of the scheme are coconut oil, tuna, and pineapples, according to the ECCP.