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Philippines and EU complete first phase of FTA talks

by ChemOrbis Editorial Team - content@chemorbis.com
  • 06/06/2016 (17:48)
According to media reports, the Philippine Department of Trade and Industry (DTI) reported that the Philippines and the EU have successfully completed the first phase of negotiations for a free trade agreement (FTA).

The parties aim to improve duty-free market access and increase mutual investments to reinforce their economic partnership. The Philippines has been a beneficiary country of the EU’s Generalized Scheme of Preferences-Plus arrangement. The arrangement provides duty-free access to the EU for over 6,000 Philippine products.

In 2015, the EU ranked as the Philippines’ fourth trading partner, with total trade amounting to $13.84 billion.
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