BRUSSELS: The European Union and the Philippines have reached an initial free trade agreement as part of the bloc’s broad pivot to Asia, Commissioner for Trade and Economic Security Maros Sefcovic said on Tuesday.
“The key parameters are there, they are approved by the political level and now what it means is that we have to translate these numbers, these key agreements into the legal text,” Sefcovic told reporters.
The initial “substantial agreement” would lead to a full deal in coming months, the European Commission said.
The Philippine deal comes as the EU has turned to Asia and more specifically Southeast Asia to find new markets for its…
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