ECCP Backs EU Trade Deal After PH Income Milestone

The European Chamber of Commerce of the Philippines (ECCP) welcomed the Philippines’ attainment of upper-middle-income status, describing it as a significant milestone that reflects the country’s sustained economic progress, resilience, and reform momentum.

ECCP President Dr. Diana Edralin said the development comes at a pivotal time as the Philippines and the European Union continue negotiations for a Free Trade Agreement (FTA), which is expected to further expand trade and investment between the two sides.

The European Union remains one of the Philippines’ key trade and investment partners. The ECCP noted that bilateral trade has continued to grow, while the country’s high utilization of the EU’s Generalised Scheme of Preferences Plus (GSP+) highlights the importance of European market access for Philippine exporters, including micro, small and medium enterprises (MSMEs) and industries integrated into global value chains.

Edralin said the timely conclusion of an ambitious, balanced, and commercially meaningful EU-Philippines FTA has become even more important as the country advances along its development path.

According to the ECCP, the proposed agreement would build on the gains achieved under existing trade arrangements by providing a more permanent and reciprocal framework for market access. It is also expected to unlock new opportunities in trade and investment while deepening cooperation in sustainability, digitalization, innovation, and resilient supply chains.

The chamber said it will continue working with the Philippine government, the European Union, and the private sector to help sustain the country’s economic progress through stronger partnerships, deeper trade and investment relations, and continued regulatory reforms that support competitiveness and shared prosperity.