The Philippines and the European Union (EU) on July 31 agreed to revitalise trade and relaunch free trade agreements (FTA) talks.

As the first-ever EU Commission president to visit the Southeast Asian country in nearly six decades, von der Leyen said her visit signals accelerating a new era of cooperation between the EU and the Philippines. (Photo: mb.com.ph)

The consensus was reached during a meeting between Philippine President Ferdinand Romualdez Marcos Jr. and EU Commission President Ursula von der Leyen in Manila.

As the first-ever EU Commission president to visit the Southeast Asian country in nearly six decades, von der Leyen said her visit signals accelerating a new era of cooperation between the EU and the Philippines, vowing to bring the bilateral trade relations to the next level.

She said the FTA could be a springboard for a new technology cooperation to modernise the broader economy.

She added that the EU would provide 466 million EUR (513 million USD) in funding to for the transition to a circular economy, and the generation of green energy through the Global Gateway sustainable investment plan.

For his part, Marcos said in a speech that he discussed with the EU chief economic relations with particular focus on revitalising trade between the two sides.

Marcos welcomed resuming negotiations for Philippine-EU free trade, adding that his administration would work with EU experts to achieve the bilateral FTA.

He also thanked the EU's long-term support for his country, particularly on the EU's recognition of a seafarer certificate issued by the Philippines that will benefit over 50,000 Filipino seafarers working onboard EU-flagged vessels.

Free trade talks began in 2015 under former President Benigno Aquino, but stalled under the administration of his immediate predecessor, Rodrigo Duterte, due to tensions between the Philippines and Western nations relating the "drug war" carried out by Duterte.

Source: VNA