Secretary for Trade and Industry Alfredo E. Pascual and EU Commission Executive Vice-President and Commissioner for Trade Valdis Dombrovskis announced on 18 March 2024 that the Philippines and the European Union will resume negotiations for an ambitious, modern, and balanced free trade agreement.

This announcement follows discussions between President Ferdinand R. Marcos, Jr. and EU Commission President Ursula von der Leyen in Manila in August 2023.