ISDS Case Map
Philippines
President Ferdinand Bongbong Marcos Jr. made a pitch for a free trade agreement between the Philippines and the European Union to shore up economic recovery following the onslaught of the COVID-19 pandemic.
The Philippines remains committed to reapplying for Generalized Scheme of Preferences Plus (GSP+) privileges from the European Union once these expire next year, the Trade department said.
Manila and Seoul target to conclude discussions of their bilateral free trade agreement (FTA) in order to sign the trade pact by first quarter of next year, the Department of Trade and Industry (DTI) said.
Signing of the Philippines-South Korea free trade area (PH-ROK FTA) will have to wait until early next yet instead of this month, as both parties are still reviewing text and provisions of the trade deal.
The Philippines has expressed interest and willingness to work toward the resumption of negotiations for a Free Trade Agreement (FTA) with the European Union (EU), according to the Department of Trade and Industry (DTI).
President Ferdinand “Bongbong” Marcos Jr. is yet to make a decision on the ratification of the RCEP as he wants to ensure the trade agreement will not be detrimental to local industries.
The Philippines is eyeing the entry into force of a free trade agreement (FTA) with South Korea next year, with the bilateral pact seen benefiting local banana and processed pineapple exporters in the form of reduced tariffs.
The Philippines has expressed its readiness to resume negotiations for a bilateral free trade agreement (FTA) with the European Union and the planned visit of President Ferdinand Marcos Jr. to Brussels in December this year could help advance the trade deal negotiation.
Canada has expressed preference for a free trade agreement with the ASEAN instead of one with the Philippines, dampening the hopes of some groups that a bilateral trade deal between the two countries will be forged.
The National Economic and Development Authority (NEDA) is pushing for the immediate ratification of the RCEP agreement to send a clear signal that the country is open to investments that will help generate more jobs.
