The Philippines and the EU aim to restart free trade agreement (FTA) negotiations in the third quarter of 2024, according to Department of Trade and Industry (DTI) Undersecretary Allan Gepty. This announcement follows a joint statement by DTI Secretary Alfredo Pascual and European Commission Executive Vice President Valdis Dombrovskis, highlighting mutual interest in strengthening trade relations, with the FTA expected to boost trade by EUR6bn(USD6.52bn). The forthcoming discussions may either continue from the 2017 talks or initiate a new round. European business groups, including the European Chamber of Commerce of the Philippines and the German-Philippine Chamber of Commerce and Industry, have expressed strong support, underscoring the FTA’s potential to enhance business operations and solidify the Philippines as a key destination for European investment.