Phl eyes to seal trade deal with EU by 2nd half of 2026

The Philippines is pushing to seal a landmark free trade agreement with the European Union by the latter half of 2026, as negotiations gain fresh momentum.

Foreign Affairs Secretary Ma. Theresa Lazaro said both sides are working toward wrapping up talks “probably the start of the second half of this year,” signaling a faster pace in discussions.

“We are looking further afield to broaden our economic base and ensure that our eggs are not all in one basket,” Lazaro said, underscoring Manila’s push to diversify trade partners.

She added: “We are revitalizing trade with Europe through the Philippine-EU Free Trade Agreement negotiations, which will open up a market of nearly 450 million high-income consumers.”

The renewed optimism follows the conclusion of the fifth round of negotiations in Brussels on March 5, where both parties reported substantial headway.

The EU delegation in Manila noted “significant progress” across multiple areas, stressing a shared resolve to finalize a deal soon.

“The European Union and the Philippines reaffirmed their shared ambition to conclude a comprehensive and ambitious agreement that strengthens economic ties and supports resilient and sustainable growth,” it said.

Trade talks between Manila and the bloc date back to December 2015 but were halted after the EU flagged humanitarian concerns under the previous administration.

Momentum returned in 2023 when Ursula von der Leyen and Ferdinand R. Marcos Jr. agreed to relaunch negotiations, which formally resumed in Brussels on March 18, 2024.