The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, welcomed the successful conclusion of the Free Trade Agreement (FTA) negotiations between the Philippines and the EU, describing it as a landmark development that will generate economic gains, expand market access, and further strengthen bilateral economic relations.
PCCI President Perry A. Ferrer hailed the conclusion of the negotiations as a significant milestone in the Philippines’ trade and investment agenda, following years of discussions that addressed complex issues involving intellectual property rights, sustainability commitments, labor and human rights standards, and compliance with environmental and carbon emission requirements.
“We are elated with this development. Certainly, this is a meaningful feat for the Philippines as we are the third country to conclude an FTA with the EU. The successful conclusion of the Philippines-EU Free Trade Agreement negotiations marks a meaningful achievement for our country and reinforces our growing integration into the global economy,” Ferrer said.
He noted that the agreement is expected to create new opportunities for Philippine exporters, attract more investments, enhance the competitiveness of local industries, and provide greater access to one of the world’s largest and most sophisticated markets.
“The business community must now position itself to fully maximize the opportunities that this comprehensive agreement will bring. This FTA has the potential to unlock new growth areas for Philippine enterprises, particularly small and medium-sized enterprises seeking to expand their presence in international markets,” he added.
EU remains one of the Philippines’ most important trading partners, with bilateral trade exceeding €17 billion annually. The agreement is expected to further boost trade flows, facilitate investments, and promote deeper economic cooperation between the two economies.
Ferrer emphasized that the successful conclusion of negotiations should be followed by swift action toward ratification and implementation.
“The ball is now in the hands of our policymakers. We hope that both the government and the private sector will continue working together to sustain this momentum. The timely ratification of the agreement will be crucial in unlocking its full benefits and ensuring that Philippine businesses can compete more effectively in the European market,” he said.
He also reaffirmed PCCI’s commitment to support the government’s implementation efforts, particularly in raising awareness among businesses about the agreement’s provisions and helping enterprises understand how they can take full advantage of the opportunities arising from the FTA.
“PCCI stands ready to work closely with the government in conducting information and capacity-building initiatives to ensure that businesses, especially MSMEs, are equipped to benefit from the agreement and participate more actively in global value chains,” Ferrer said.
