Philippine Economic Zone Authority Director General Tereso Panga said more European Union investors are likely to expand or set up operations in the country once the Philippines–EU Free Trade Agreement is finalized.
Panga issued the statement as PEZA hosted a 16-member delegation from the European Parliament Committee on International Trade on Feb. 17 during its trade mission to Manila.
“We are confident that the finalization of the Philippines–EU FTA will open new opportunities, attract more European investors and further strengthen our position as a key investment hub,” Panga said.
EU Ambassador to the Philippines Massimo Santoro and INTA Chair Bernd Lange led the delegation along with lawmakers from several EU member states. Panga briefed the group on the country’s investment climate and the advantages of locating in PEZA zones, citing strong services growth, a deepening manufacturing base and infrastructure upgrades as key drivers.
He identified priority areas for EU collaboration from 2026 to 2030, including electronics manufacturing, logistics digitalization and renewable energy focused on grid resilience and storage.
EU officials underscored the importance of the Generalised Scheme of Preferences Plus (GSP+), which has granted the Philippines duty-free access for more than 6,000 products since 2014. In 2024, the scheme supported 2.2 billion euros in Philippine exports, with total bilateral trade reaching 16.8 billion euros.
With GSP+ expiring in 2027, both sides cited an urgency in concluding the FTA to secure long-term market access. Trade Secretary and PEZA Board Chair Ma. Cristina Roque previously said a successful deal could unlock up to $12 billion in additional exports.
PEZA currently hosts more than 190 locator firms with EU equity, accounting for more than P400 billion in investments and more than 430,000 jobs.
