President Ferdinand Marcos Jr. is pushing for the swift conclusion and implementation of nine key trade deals and economic ties with the Philippines’ foreign partners aimed at expanding market access, attracting investments and creating jobs for Filipinos.
In his 240-page President’s Report to the People, Marcos said the Philippines is currently negotiating Free Trade Agreements (FTAs) and Comprehensive Economic Partnership Agreements (CEPAs), either bilaterally or through the Association of Southeast Asian Nations (Asean).
“We’re making significant strides toward formalizing trade partnerships that could unlock new investment opportunities,” the president said in his report, released late Monday.
Among them is a CEPA with Chile, launched in December 2024, with formal talks beginning in March. It covers digital trade, intellectual property, MSMEs, labor and the environment.
“The Philippines stands to gain enhanced access for key exports and more facilitative trade rules,” he said.
The government also began exploratory talks with Canada in December, coinciding with the 75th anniversary of diplomatic ties between Manila and Ottawa.
“We aim to open new markets, attract investments, and support long-term economic growth and shared prosperity,” Marcos said.
He also underscored the potential benefits of an FTA with the European Union, which could lock in tariff preferences under the EU’s Generalized Scheme of Preferences Plus for products such as canned tuna, sardines, coconut oil and processed pineapples.
“The FTA would catalyze economic growth — benefiting businesses, workers and consumers on both sides,” he said.
The president is also eyeing the completion of a CEPA with the United Arab Emirates, expected to open new markets and draw capital from the Gulf.
Other ongoing efforts include the proposed upgrade of the Asean Trade in Goods Agreement, the Asean Digital Economy Framework Agreement, Asean-China FTA 3.0, and pending negotiations with Australia-New Zealand and India.
In his fourth State of the Nation Address (SONA) on Monday, Marcos renewed his invitation to foreign investors, saying the Philippines is open for business and has the skilled workforce to support it.
Ahead of the SONA, Marcos expressed support for a possible FTA with the United States, even as the technical working committees on both sides continue to negotiate the details of the 19-percent reciprocal tariff on Philippine goods.
