The European Union and the Philippines announced the resumption of negotiations for a free trade agreement on Monday, with Brussels saying the first round of talks should begin 'later this year.'
BRUSSELS — The European Union and the Philippines announced the resumption of negotiations for a free trade agreement on Monday, with Brussels saying the first round of talks should begin "later this year.""The conditions are right to take our trade relations to the next level," EU trade commissioner Valdis Dombrovskis said at a press conference in Brussels.
The Philippines, which depends heavily on trade with China, says it wants to expand its economic relations with other countries to achieve greater "resiliency."The EU is the Philippines' fourth-largest trading partner and is one of the biggest investors in the country."The future of EU-Philippines economic relations hold immense promise," said Trade Secretary Alfredo Pascual.
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