The Philippines is now set to receive millions of euros worth of economic packages and relaunch its negotiations for a free trade agreement (FTA) with the European Union (EU) as the regional bloc continues to “derisk” its supply chains. Know more:
President Ferdinand R. Marcos Jr. welcomes European Commission President Ursula von der Leyen as she signs the guest book in Malacañang Palace on Monday . The President of the European Commission is in the country for a three-day official visit aimed at strengthening diplomatic ties between the Philippines and the EU. This marks the first official visit from the President of the European Commission in nearly six decades.
On top of the grant, EU will also provide technical support to the country through its “Eyes in the Sky” initiative, wherein the data from its Copernicus satellites will be shared to the Philippine Space Agency through a “mirror site.” As part of its efforts to develop new sources of “critical raw materials.” The EU is also currently eyeing projects, which aims to develop the local mining industry.
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