By Beatriz Marie D. Cruz, Senior Reporter
THE PHILIPPINES can add impetus to free trade talks with the European Union (EU) by growing its green economy, reforming the power industry to lower electricity costs and improving trade facilitation, the European Chamber of Commerce of the Philippines (ECCP) said.
“To strengthen national competitiveness and support ongoing negotiations for the EU-Philippines FTA, policy action must focus on three vital pillars: energy and green growth, trade facilitation, and sustaining investor confidence,” the group said in an e-mail responding to BusinessWorld queries.
The ECCP stressed the need to amend the Electric Power Industry Reform Act to ensure a competitive and affordable power market.
It also sought the passage of the Blue Economy Act, which seeks to provide a clearer framework for green shipping and marine investments.
The government must also fully operationalize the National Single Window System, which allows traders to submit trade-related documents through a centralized digital portal.
The ECCP also backed the strengthening of the Anti-Red Tape Authority to enforce compliance, citing the need to remove administrative friction for international investors.
The group also called for making contractor licensing more fair, securing cross-border data flows, making food policy more transparent, and developing a healthcare procurement framework.
On healthcare, the ECCP backed measures to institutionalize reliance pathways to accelerate access to safe, effective, and innovative medicines. Reliance pathways involve expediting the drug approval process by accepting the guidance of foreign drug regulators.
The EU and the Philippines are looking to finalize their proposed free trade agreement (FTA) this year, with signing projected for next year.
FTA negotiations are targeted to conclude before the Generalised Scheme of Preferences Plus scheme — which grants over 6,000 Philippine-made goods duty-free entry to the EU — expires in 2027.
The ECCP also cited the need to ensure that investment frameworks for digital connectivity, electronic governance, and land lease terms are implemented swiftly and with predictability.
“As economic governance enters its next phase, the European-Philippine business community emphasizes that success now hinges on turning these statutory wins into real-world results through swift implementation, regulatory predictability, and targeted follow-through,” the ECCP said.
The EU was the Philippines’ fifth-largest trading partner in 2025, with bilateral trade hitting $18.10 billion in 2025.
