ECCP Backs EU-Philippines FTA as Philippines Reaches Upper-Middle-Income Status
Updated
Updated · thephilbiznews.com · Jul 3
ECCP Backs EU-Philippines FTA as Philippines Reaches Upper-Middle-Income Status
1 articles · Updated · thephilbiznews.com · Jul 3
Summary
ECCP said the Philippines’ move into upper-middle-income status makes a timely EU-Philippines free trade agreement more important as negotiations continue.
Diana Edralin said the deal would turn current trade arrangements into a more permanent, reciprocal market-access framework as the country advances economically.
The chamber pointed to growing bilateral trade and strong use of the EU’s GSP+ scheme, which supports Philippine exporters, including MSMEs and firms in global value chains.
ECCP said an ambitious agreement could lift trade and investment further while expanding cooperation in sustainability, digitalization, innovation and resilient supply chains.
The group said it will keep working with the Philippine government, the EU and businesses on deeper trade ties and regulatory reforms to sustain competitiveness and shared prosperity.