Taguig city: The Philippines is aiming to conclude free trade agreement (FTA) talks this year with the European Union, Chile, and Canada, Trade Secretary Ma. Cristina Roque announced Wednesday. Speaking at the ASEAN Business Environment Forum, Roque emphasized that these deals are part of the Marcos administration's goal to establish around 20 FTAs by 2028.
According to Philippines News Agency, Roque highlighted that the FTA negotiations with the European Union and Canada are expected to conclude by June or July, with the signing anticipated in 2027. The agreement with Chile is projected to be finalized within this year. Roque noted that over 70 percent of the country's exports currently reach partner markets through existing agreements, facilitating the entry of Filipino products into the international market.
Roque also mentioned that President Ferdinand R. Marcos Jr. has instructed the prioritization of FTAs to ensure fair competition for Filipino businesses. She stressed the importance of viewing the global market as the target, rather than focusing on a single country, to enhance competitiveness on an international scale.
The Philippines has established FTAs with approximately 16 countries, with the most recent agreement signed with the United Arab Emirates during President Marcos' official visit to Abu Dhabi in January.