The Philippines is pursuing 18 free trade agreements (FTAs) and related arrangements to diversify export markets and strengthen its global trade position, Department of Trade and Industry Undersecretary Allan Gepty said Thursday.
Speaking at a Joint Foreign Chambers economic briefing, Gepty said the administration aims to conclude enough negotiations to bring the total number of trade arrangements to 20 when including various annexes.
The strategy focuses on increasing preferential access for Philippine goods and services across traditional and non-traditional markets.
The government has already ratified the Regional Comprehensive Economic Partnership and forged a bilateral FTA with South Korea. It recently signed a Comprehensive Economic Partnership Agreement with the United Arab Emirates to establish a stronghold in the Middle East.
“If we are successful in concluding all negotiations and trade arrangements, we’re eyeing around 18 trade agreements. Including other annexes and related arrangements, that number rises to about 20,” Gepty told diplomats and business leaders.
Negotiations are underway with Chile to tap into Latin American markets. This month, the government will begin the first round of FTA talks with Canada, marking the first such agreement with a North American nation.
Gepty said that Canada serves as a complementary market to the United States for local exporters.
Talks with the European Union are expected to finish by mid-2026. Securing this deal would allow the Philippines to expand its preferential market coverage to about 80 percent of its total trade.
About 70 percent of Philippine trade is conducted with FTA partners. The remaining 30 percent involves non-FTA countries, with the United States accounting for 10 percent and the European Union representing 8 percent to 10 percent.
“When it comes to goods, services, and investment, we want to expand our reach to preferential markets,” Gepty said, but he acknowledged the country’s persistent trade deficit in goods remains a structural challenge.
The Philippines is also participating in regional initiatives such as the ASEAN Digital Economy Framework Agreement and upgrades to existing deals with India and South Korea.
Gepty said the Marcos administration is pursuing a comprehensive approach to maintain existing FTAs while exploring new strategic markets.
