cross-posted from: https://scribe.disroot.org/post/11458972

[Original in Italian. This is an automated and paraphrased translation with minimal edits.]

The European Commission and the Philippine Government announced on Monday 21 September that they had found a principle agreement on a future trade agreement. The announcement came through a joint communiqué by Maroš Šefčovič and his counterpart Cristina Aldeguer-Roque. The agreement is a new step in the Community strategy for diversification of trade.

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"This agreement strengthens our ties with one of the most dynamic economies of South-East Asia - said Commissioner Šefčovič -. There is a huge growth potential beyond current trade, which amounts to approximately 18 billion euros in goods and 10 billion euros in services". Three years ago the European Commission President Ursula von der Leyen went to Manila to relaunch the negotiations with the Philippines.

Waiting for more details, it should be noted that the agreement with Manila arrives while Brussels is looking for a suffered economic agreement with China. The European objective is to limit the invasion of Chinese goods, often subsidized by the Chinese government.

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In recent days, a Community spokesman, Olof Gill explained: "Although an authentic commitment remains a priority, it is equally important that the first concrete results be obtained at the second session of the Trade and Investment Council in Beijing in October, and that the Commissioner will co-chair: a signal that we are passing from words to facts. This result must be credible. To this end, the work continues".

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