MANILA – The Philippines will start talks for a bilateral free trade agreement (FTA) with the European Union (EU) next month, Trade Secretary Gregory L. Domingo said on Tuesday.
Domingo told reporters that he will discuss the FTA with his EU counterparts at the 3rd Asean-EU Business Summit in Hanoi, Vietnam on March 8-9.
The Philippines and the EU have identified six areas where they have similar interests to liberalize trade, he said, without disclosing details.
In his speech during the second anniversary forum of Arangkada Philippines, Domingo said the country is “further intensifying” its participation in trade negotiations and is “constantly on the lookout for opportunities brought about by bilateral, regional and international trade agreements such as the one with the EU and the TPP,” referring to the Trans-Pacific Partnership trade deal.
European businessmen in the country had said the government has been “slow”in pursuing an FTA with EU.
Other Asean countries are already in advanced stages of negotiations with the EU for their respective FTAs.
US President Barack Obama during his recent state of the union address announced that Washington and the EU will begin formal talks for an FTA.
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Source: Ben Arnold O. De Vera, InterAksyon, 26 February 2013
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