DFA open to more dialogue with EU amid resumption of free trade talks

The Department of Foreign Affairs (DFA) on Thursday said it was open to more dialogue and coordination with the European Union following the resumption of its talks with the Philippines for a free trade agreement (FTA).

“The DFA appreciates the continued engagement of the European Commission on the formal talks for the FTA, following the successful conclusion of the stock-taking exercises conducted by working level experts from both PH and EU last September to December 2023,” the DFA said in a statement.

“We look forward to further coordination and dialogue with the EU in pursuit of a comprehensive, balanced and modern FTA,” the DFA added.

Brussels said the first round of talks should begin “later this year,” saying that the conditions are right to take the trade relations to the next level.

The EU is the Philippines’ fourth-largest trading partner and is one of the biggest investors in the country.

Meanwhile, the EU is also looking to boost trade ties around the globe with countries that could help diversify its supplies of key raw materials needed in the transition to green technology.

To recall, the exploratory FTA talks between the Philippines and the EU began in 2013, while the launching of negotiations was announced in December 2015.

The first FTA negotiations were held in Brussels, Belgium in 2016, followed by second round negotiations in Cebu, Philippines in 2017. The FTA talks have been idle since. — VDV, GMA Integrated News