Political and Economic relations
The relationship between the European Union and the Republic of the Philippines is a longstanding one, which has broadened and deepened remarkably in recent years. Europe's dialogue with ASEAN began in the late 1970s, and was formalised with the signature of an EC-ASEAN co-operation agreement in 1980. Discussions on economic and political issues of common interest, at both the ministerial and official level have been regularly held since then. In addition, bilateral dialogues with the Philippines have included periodic reviews of political, economic and co-operation issues in the framework of regular Senior Officials Meetings.
The EU is a major trade and investment partner of the Philippines, with two-way trade amounting to billions per year. European companies have also been significant investors in the Philippines over the long-term, whether in the banking, industrial or service sectors.
The EU-Philippine relationship has deepened further especially with the recent EU-Philippines' partnership cooperation agreement [228 KB] that was signed 11 July 2012 by High Representative of the European Union for Foreign Affairs and Security Policy Catherine Ashton and Philippine Foreign Secretary Albert Del Rosario in Phnom Penh, Cambodia. This illustrates the importance the EU attaches to its relations with the Philippines.
The EU-Philippine relationship has deepened steadily over time. Two-way trade is robust and EU investment in the Philippines has made a significant contribution. Our cooperation in the fight against poverty is long-standing, and we work actively together in regional fora. The EU continues to encourage and support the Philippine government to undertake decisive reforms to reduce current uncertainties, improve the investment climate, create more employment opportunities, intensify external trade relations and increase its competitiveness in the Asian region.
updated 12 July 2012