News Release

Trade chief to follow up GSP+, PH-EU FTA negotiations


Trade Secretary Alfredo Pascual on Tuesday said he is flying to Brussels, Belgium toward the end of June to follow up on the negotiations on the EU’s Generalized Scheme of Preferences Plus (GSP+) and also the Free Trade Agreement (FTA) with the European Union (EU).

“Kasi alam ninyo iyong GSP+ is available to the Philippines now, given that the Philippines is a low-middle income country. Kapag naging upper middle income country ang Pilipinas, hindi na tayo eligible sa GSP+,” Pascual said during a press briefing in Malacañang.

“So, binanggit na rin sa akin iyan noong mga parliamentarians from EU na bumisita sa opisina ko. Kaya sabi ko nga, so kailangang mag-umpisa na tayong mag-negotiate ng Free Trade Agreement. So , iyon ang usapan and we will see,” he said.

Pascual made the remarks when asked by reporters for the updates on the GSP and EU-Free Trade Agreement negotiations.

The EU’s GSP+ gives developing countries a special incentive to pursue sustainable development and good governance.

According to Pascual, the Philippines has the support from European businesses that are operating in the Philippines and also from some members of EU parliament.

Last month, the EU-ASEAN Business Council (EU-ABC) and the European Chamber of Commerce in the Philippines (ECCP) called on President Ferdinand R. Marcos Jr. to push for the resumption of the negotiations for a bilateral Philippine-EU Free Trade Agreement (FTA).

Speaking during the EU-ABC Annual General Meeting Gala Dinner in Makati City, Marcos said he believes the timing and conditions are now ripe for both sides to solidify their long-standing and historically beneficial trade relations through a bilateral Philippine-EU Free Trade Agreement.

A bilateral FTA will be a win-win strategy for both the Philippines and the EU, Marcos pointed out, adding it also promises to achieve mutually beneficial economic goals, while maintaining EU’s consistency with its core ideals and its Indo-Pacific region strategy. (PND)