DTI eyes 3 more trade pacts this year

Manila is keen on concluding negotiations for three more trade agreements with less than a year left in 2026, which, if achieved, would leave the Philippines with five new and updated trade pacts by year-end.

Trade Secretary Cristina Roque said the Philippines remains on track to conclude negotiations for bilateral free trade agreements (FTAs) with the European Union and Canada, as well as an updated Japan-Philippines Economic Partnership Agreement, within the year.

This comes after the Philippines signed an FTA with the United Arab Emirates in January, its first with a Middle Eastern country.

Last week, Manila also concluded negotiations for an FTA with Chile, another first, this time with a Latin American country.

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Roque said these FTAs are meant to expand the Philippines’ access to global markets, especially amid growing trade uncertainty in the United States, its largest export market.

Washington recently raised tariffs on Philippine products to 12.5 percent.