DTI resumes free trade talks with EU, eyes 2027 conclusion

Trade Secretary Alfredo Pascual announces the resumption of free trade talks with the European Union.The Department of Trade and Industry said it is looking forward to finalizing negotiations for a free trade agreement with the European Union by 2027.

Trade Secretary Alfredo Pascual expressed his appreciation towards the EU for its renewed confidence in the Philippines. The Philippines has benefitted from the EU’s Generalized Scheme of Preferences Plus since 2014. The trading scheme allows more than 6,000 tariff lines from the Philippines to enter the EU tariff-free.Based on a policy study conducted by the International Trade Center under the ARISE+ program, the Philippines saved P57.4 billion in tariffs through the GSP scheme between 2015 and 2021. Exports to the EU also doubled fromP320 billion to P629 billion since the inception of the GSP+.

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