The European Union Strikes a New Free Trade Deal with the Philippines The European Union's latest bilateral agreement with the Philippines marks a significant development in the bloc's efforts to diversify its economy.
This new free trade deal is being hailed as a strategic move to reinforce engagement with the Indo Pacific region, as the EU seeks to reduce its dependence on traditional trading partners like China, Russia, and the United States.
The agreement is expected to boost annual trade between the 27 nation EU and the Philippines to nearly €30 billion.