The Philippines and the European Union (EU) are nearing the completion of their scoping talks for a potential free trade agreement (FTA), EU Ambassador to the Philippines Luc Veron said on Wednesday.
During the 2023 Pilipinas Conference in Makati, Veron stated that the two nations are on track to finalize the process by the end of the year.
He disclosed that European Commission President Ursula von der Leyen and President Ferdinand R. Marcos Jr. had agreed to review the various chapters that would form part of the FTA to determine areas of potential agreement.
Since the announcement of FTA discussions in September, at least three rounds of scoping talks have been held, according to the European Union Delegation in Manila.
Veron emphasized the significance of an FTA with the EU, noting that the EU market comprises 350 million consumers. He described the potential agreement as a major development for the Philippines.
Source: PhilNews24 | November 23, 2023
