The Philippines’ Malacañang recently announced that the European Union (EU) is to resume negotiations on a free trade agreement (FTA) with the Philippines.
According to Phil Star, the last round of negotiations of the EU-Philippines FTA was held in Cebu City in 2017.
During the ASEAN-EU Special Summit in Brussels, Belgium, President Marco told European leaders that:
“While the Philippines awaits the resumption of the Phl-EU Free Trade Agreement negotiations, we remain committed to maintaining our EU GSP+ beneficiary status, serving as a stepping-stone towards this FTA.”
In addition, the Malacañang also highlighted the important role of the renewal of the country’s Generalized Scheme of Preferences Plus (GSP+) accreditation.
Ursula Von der Leyen, the president of EU said that the GSP+“would open the door for much easier start into going into free trade agreement negotiations,” reported the Office of the Press Secretary (OPS).