THE country will pursue more free trade agreements (FTAs) and maintain its standing as a competitive business partner in Southeast Asia and beyond, Trade Undersecretary Allan Gepty said in a keynote message at The Manila Times Economic Outlook Forum on Wednesday.
“One thing I would like to emphasize is that we have a very clear trade policy agenda. The mandate is for us to expand our trade network toward more economic partnerships,” Gepty said.
FTA negotiations with Chile, the European Union (EU), and Canada are ongoing.
“The PH-EU FTA is a milestone because it will stabilize our presence in one of the world’s largest markets,” Gepty said.
The fifth round of negotiations for the PH-EU FTA will be held in early March in Belgium.
The deal’s anticipated signing comes as the Philippines’ EU Generalized Scheme of Preferences Plus (GSP+) trade arrangement is due to expire in 2027.
Formalized in December 2014, the EU GSP+ allows over 6,000 Philippine products duty-free entry to the EU including tuna, coconut oil, coffee, pineapples and garments, with required compliance with 27 international conventions on human rights, labor, environment, and good governance.
The arrangement will be renewed once the PH-EU FTA is signed.
“The FTA will also push for rules of comprehensive market access, digital trade, government procurement, sustainability and intellectual property and services,” Gepty said.
In 2024, Philippine exports to the EU amounted to $8.1 billion, while EU imports totaled $7.5 billion.
First in Latin America
Meanwhile, the FTA with Chile would be the Philippines’ first in Latin America, the world’s biggest source of copper, which is said to be concentrated along the Andes mountain range. Copper is vital to helping power electric vehicles, data centers, and artificial intelligence-related industries.
The FTA with Chile is just undergoing “finishing touches,” Gepty told The Times.
On the other hand, the FTA with Canada will have its first round of negotiations on February 18. Initial talks started in 2024.
“This will be the country’s first FTA in the North American region,” Gepty said in his speech.
Currently, the country has bilateral trade agreements with Japan, the EU Free Trade Association, South Korea, and the United Arab Emirates.
Negotiations are ongoing for an FTA with India, as well as an Asean Digital Economy Framework Agreement. There are also exploratory talks with Israel.
The country’s hosting of the 2026 Asean Summit, Gepty said, “will advocate policies that promote strategic trade, sustainable and resilient Asean capital markets, responsible use of artificial intelligence, creative industries, financial health and inclusivity. History reminds us that periods of global transition often reward regions that act with coherence and foresight.”