MANILA — The Philippines and the European Union (EU) are aiming to finalize negotiations on a free trade agreement (FTA) in the second half of 2026, Foreign Affairs Secretary Ma. Theresa Lazaro said.

Speaking at a Federation of Philippine Industries (FPI) forum in Taguig City, Lazaro said both sides hope to conclude talks “probably the start of the second half of this year.”

“We are looking further afield to broaden our economic base and ensure that our eggs are not all in one basket,” she said.

“We are revitalizing trade with Europe through the Philippine-EU Free Trade Agreement negotiations, which will open up a market of nearly 450 million high-income consumers,” Lazaro added.

The remarks came after Manila and the EU wrapped up the fifth round of FTA negotiations in Brussels on March 5. The EU Delegation in Manila said “significant progress” has been made across multiple areas of the proposed deal, with both sides committed to concluding it soon.

“The European Union and the Philippines reaffirmed their shared ambition to conclude a comprehensive and ambitious agreement that strengthens economic ties and supports resilient and sustainable growth,” the delegation said.

Negotiations for a Philippine-EU FTA were first launched in December 2015 but stalled after the EU raised humanitarian concerns during the previous administration. Talks were relaunched in 2023 following discussions between European Commission President Ursula von der Leyen and President Ferdinand R. Marcos Jr., and formally resumed in Brussels on March 18, 2024.