GPCCI Statement on the concluded negotiations of the EU-Philippines Free Trade Agreement

This is a landmark moment for German-Philippine economic relations and the outcome German business in the Philippines has long advocated for. When GPCCI first surveyed German companies on the agreement, 83 percent rated it highly important and nearly half said they would expand their investments. Today, amid energy shocks and a fragmenting global trade environment, nearly four in five member companies are exploring new markets and seven in ten are diversifying their supplier networks. The agreement responds directly to that need by giving European and Philippine businesses a rules-based, predictable platform to trade, invest and build resilient supply chains together. "Today's agreement is the milestone; delivering it is the goal, and German business stands ready to turn it into investments and jobs in the Philippines," said Dr. Christian Scheld, GPCCI President. GPCCI urges both sides to finalize the legal text swiftly and proceed to signature and ratification well ahead of the expiry of GSP+ in 2027, so that Philippine exporters face no gap in market access. Equally important is the full and consistent implementation of the commitments on services, investment and government procurement, which are firsts for the Philippines. As Germany remains the Philippines' largest trading and investment partner in the EU, GPCCI stands ready to work with the Philippine government, the European Union and the German Embassy to turn this agreement into new investments, quality jobs and skills for Filipinos.