The Department of Trade and Industry (DTI) is exploring potential free-trade agreements (FTAs) with African countries, aligning with the government’s push for broader bilateral ties.
DTI Undersecretary Allan Gepty said the move is part of the agency’s efforts to expand its FTA network.
“There are no specific targets identified yet, but we’re following the DTI’s directive to explore potential FTAs with various African nations,” Gepty said in a recent briefing.
The DTI, along with other government agencies, is already engaged in FTA negotiations with several trading partners.
These include South Korea (pending Senate approval), the European Union (talks scheduled for October 2024), the United Arab Emirates (second round concluded in March 2024), Chile, Canada and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The EU announced the resumption of FTA talks in March 2024. The October round will discuss various elements of the proposed agreement.
The Philippines concluded its second round of FTA negotiations with the UAE in March 2024, marking its first potential FTA with a Middle Eastern nation. Gepty said this could open doors to the wider Gulf Cooperation Council market if negotiations conclude in October 2024.
The DTI is also exploring FTAs with Chile and Canada. The Philippines is updating a feasibility study for a Philippines-Chile FTA, and exploratory talks are underway with Canada.
The Philippines remains interested in joining the CPTPP, which would provide market access to Chile, Mexico, Peru, Canada and the United Kingdom.
The DTI is working with the private sector to maximize the use of existing FTAs through trade education and advocacy campaigns.
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