The Philippines and the European Union (EU) are looking to deepen economic cooperation, with investment, green transition, digital transformation, sustainable connectivity and inclusive growth emerging as key areas for expanded partnership.
The two sides discussed these priorities during the 6th Meeting of the Sub-Committee on Development Cooperation held in Manila on October 1, 2026, building on the EU-Philippines Partnership and Cooperation Agreement and the Enhanced Partnership signed on July 24, 2026.
Discussions focused on advancing Global Gateway investment projects involving both government-to-government cooperation and the private sector, including initiatives on climate resilience, disaster risk reduction and water access.
New investments in the green transition, circular economy, environmental protection and development in Mindanao may be supported through EU grants, blended finance and EU guarantees designed to help reduce upfront investment risks.
Under the Team Europe approach, the European Investment Bank (EIB), other European development finance institutions and European private-sector investors are expected to play important roles, alongside potential cooperation with multilateral development banks, particularly the Asian Development Bank (ADB).
The partnership also covers strategic areas such as the sustainable use of critical raw materials, regional connectivity and energy integration. Both sides highlighted the ASEAN Power Grid as an important platform for regional connectivity and the green transition, while continuing support for EU-ASEAN initiatives.
The discussions also explored support for seafarers under the EU-ASEAN Sustainable Connectivity Package and the potential expansion of EU Copernicus Earth Observation initiatives from the Philippines to other Southeast Asian countries.
The Philippines’ transition toward upper middle-income country status and the Luzon Economic Corridor (LEC) were likewise discussed as opportunities to strengthen connectivity, attract investment and support broader economic integration.
Alongside the economic agenda, the Philippines and the EU reaffirmed cooperation on good governance and the Mindanao peace process, with continued support for peace and development in the Bangsamoro region.
The meeting was co-chaired by Department of Finance (DOF) International Finance Group Undersecretary Joven Z. Balbosa and Ovidiu Mic, Head of Unit for South and Southeast Asia at the European Commission’s Directorate-General for International Partnerships.
The Philippine delegation included representatives from the DOF, Department of Economy, Planning, and Development, Department of Foreign Affairs, Supreme Court, Court of Appeals, Department of Energy, Department of Environment and Natural Resources, Department of Trade and Industry, Mindanao Development Authority, Bangsamoro Autonomous Region in Muslim Mindanao agencies, Department of Science and Technology, and Philippine Space Agency.
The EU delegation was represented by the European Commission’s Directorate-General for International Partnerships, the EU Delegation to the Philippines and the European Investment Bank.