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EU and Philippines agree on free trade deal - Finance news and analysis from Global Banking & Finance Review
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EU and Philippines agree on free trade deal

Published by Global Banking & Finance Review

Posted on September 22, 2026

1 min read

· Last updated: September 22, 2026

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EU and Philippines Agree on Free Trade Deal to Boost Economic Ties

Key Developments in EU-Philippines Trade Relations

Announcement of the Free Trade Deal

Sept 22 (Reuters) - European Commission President Ursula von der Leyen said on Tuesday that she had spoken to Philippine President Ferdinand Marcos Jr. and that they had just agreed on a free trade deal.

Leaders Involved in the Agreement

(Reporting by Rajveer Singh Pardesi in Bengaluru; Editing by Jacqueline Wong)

Key Takeaways

  • Sixth round of EU‑Philippines FTA negotiations concluded in May 2026, covering market access and government procurement, among other areas (eeas.europa.eu)
  • Bilateral trade reached approximately €17.6 billion in 2025, with both sides seeking a comprehensive, balanced agreement to deepen economic ties (eeas.europa.eu)
  • The deal would transition from GSP+ preferences to a full FTA framework to enhance supply chain resilience, investor access, and trade diversification (eeas.europa.eu)

References

Frequently Asked Questions

Who agreed to the free trade deal?
The agreement was made between the European Commission President Ursula von der Leyen and Philippine President Ferdinand Marcos Jr.
What is the main focus of the new agreement?
The agreement centers on establishing a free trade deal between the European Union and the Philippines.
When was the free trade agreement announced?
The deal was announced on September 22.
Who reported the news about the EU-Philippines trade deal?
The news was reported by Rajveer Singh Pardesi in Bengaluru and edited by Jacqueline Wong.

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