Negotiators from the European Union and the Philippines held the fifth round of talks on a proposed free trade agreement in Brussels from 2 to 6 March, with both sides reporting “significant progress” across a broad range of issues.
The EU and the Philippines said they had reaffirmed their shared intention to conclude a comprehensive agreement designed to strengthen economic ties and support “resilient and sustainable growth”, the European External Action Service (EEAS) reported on Thursday.
It noted a free trade agreement is a deal between trading partners that sets rules and conditions for buying and selling goods and services, including access to each other’s markets.
What the talks covered
The latest round of negotiations focused on advancing work across multiple areas covered by the planned pact, the organisation said, without setting out specific chapters or outcomes.
Both sides also said the agreement is intended to provide mutual market access and improve trade conditions for businesses and consumers on both sides — the EU and the Philippines.
