EU Strikes Free Trade Deal With Philippines in Bid to Ease Reliance on Major Powers
As tensions with traditional partners persist, Brussels says the deal 'sends a clear signal that the EU is reinforcing its engagement with the Indo-Pacific.'
The European Union has finalized a new free trade deal with the Philippines to diversify its economy and boost annual trade, which currently stands at nearly 30 billion euros. This agreement aims to create more resilient and diversified supply chains, a key priority for the EU. The deal reinforces the EU’s engagement with the Indo-Pacific region.
- The EU has signed a new free trade deal with the Philippines.
- The agreement aims to diversify the EU’s economy amid tensions with major trading partners.
- The deal is expected to increase the annual trade between the EU and the Philippines, currently around 30 billion euros.
- It will also contribute to stronger and more diversified supply chains.
- The EU is reinforcing its engagement with the Indo-Pacific.
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