TRADE Secretary Cristina Roque said more talks have been set for free trade agreements (FTAs) with the European Union and Chile — two deals that also cover investments and cooperation beyond tariffs.
Both FTAs had been eyed for conclusion by June or July but one issue needs to be resolved, she said.
“The issue is in the agriculture sector. We’ve already come up with a compromise, but it’s confidential,” Roque told reporters on Saturday, adding that she was working with the Department of Agriculture on the matter.
The seventh round of Philippines-EU FTA negotiations ran from June 29 to July 3, while the third round of the Philippines-Chile Comprehensive Economic Partnership Agreement was held from Oct. 6 to 10, 2025.
Roque said both deals remained on track for conclusion this year and signing sometime in 2027.
Once concluded, the EU FTA could unlock $12 billion in additional export potential and secure renewal of the EU’s Generalized Scheme of Preferences Plus (GSP+) — a trade privilege giving Philippine exports reduced tariffs — that is set to expire next year.
Trade in goods between the Philippines and the EU totaled €8.3 billion from January to June 2025.
The Chile CEPA, meanwhile, will be the Philippines’ first free trade agreement in Latin America. Bilateral trade between the two countries rose 137 percent in 2024 to $334.13 million.
The Philippines is also aiming to conclude an FTA with Canada by yearend. It currently has four bilateral trade agreements: with Japan, the European Free Trade Association (Iceland, Liechtenstein, Norway, and Switzerland), South Korea, and the United Arab Emirates.
