The European Union has reached political agreement on a trade deal with the Philippines, Commission President Ursula von der Leyen said after a call with President Ferdinand Marcos Jr. The announcement comes three years after von der Leyen visited the Philippines to pave the way for the relaunch of trade talks and marks the latest milestone in the drive by Brussels to diversify the EU’s commercial ties in response to President Donald Trump’s America-first trade agenda and China’s growing export dominance. But a readout of the call between the two leaders said the EU and the Philippines were only “about to conclude talks on a Free Trade Agreement,” indicating that further negotiations would be needed to finalize the deal.
In a separate statement, EU Trade Commissioner Maroš Šefčovič and Philippine Minister for Trade and Industry Maria Cristina Aldeguer-Roque said they had reached “substantial agreement” that would set the deal “on a clear path towards its formal conclusion in the coming months.” There was some confusion on Monday when Šefčovič skipped a planned visit to Manila and instead held what the Commission called “a very focused and productive” video call with Aldeguer-Roque. While a deal had not been expected during the visit, business representatives had been looking for a political signal that the two sides were ready to wrap up the talks. Most negotiating chapters had been closed before von der Leyen’s announcement in the early hours of Tuesday, European time, but talks on public procurement were continuing.
Complicating the final stretch is a proposed EU industry law that would restrict access to public procurement in green and energy-intensive sectors for countries without procurement agreements with the bloc.
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