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EU, Philippines revive FTA talks

The European Union (EU) and the Philippines have decided to resume negotiations for a free-trade agreement (FTA), according to European Commission President Ursula von der Leyen. The talks, which started in 2015 stalled two years later, and are now being revived to foster a “new era of cooperation”. The EU is the Philippines' fourth-largest trading partner, and an FTA could result in job creation and economic growth for both parties. The Philippines, which currently enjoys tax-free export of 6,274 products to the EU under the Generalised Scheme of Preferences Plus (GSP+), is set to lose this status at the end of this year. Von der Leyen also announced a USD513m aid package to support the Philippines in developing green energy and plastics recycling.


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