Metro Manila, Philippines – The European Union (EU) is stepping up its commitment to the Philippines, particularly in reinforcing a rules-based global order amid mounting geopolitical challenges.
In an interview with NewsWatch Plus, European Commissioner for Budget and Administration Johannes Hahn emphasized the importance of the Philippines as a strategic partner for the EU in the Indo-Pacific.
“We are both deeply committed to a global rules-based order, which ensures free trade and fair participation for all,” Hahn pointed out during his visit to Manila.
This mutual commitment, he added, is vital as tensions continue to rise, especially in the South China Sea and with Russia’s invasion of Ukraine.
He said the Philippines plays a crucial role in supporting international law, as demonstrated by its consistent support for United Nations resolutions condemning Russian aggression in Ukraine.
“It’s in all our interests to stand firm on territorial integrity and global security,” he noted.
With regional conflicts like the war in Eastern Europe causing far-reaching consequences, Hahn warned that any violation of territorial integrity could inspire similar actions elsewhere.
“If you face a violation there, it might be an invitation for others to do something similar,” Hahn said.
“Whether it’s the South China Sea or Ukraine, the message is clear: the EU and the Philippines are aligned in their vision of a world governed by laws, not force,” he added.
On the economic front, Hahn highlighted a number of opportunities for collaboration. He noted that the EU and the Philippines have made significant strides in restarting free trade agreement negotiations, marking a new chapter in their relationship.
EU President Ursula von der Leyen and President Ferdinand Marcos Jr. announced last year the resumption of trade negotiations on both sides.
“We’re still in the early stages, but the fact that talks have resumed is a testament to the growing trust and friendship between our regions,” Hahn said.
Investment, particularly through Eurobonds, was also a key focus of the discussion during Hahn’s meeting with Philippine officials. The commissioner met with officials from the Department of Budget and Management and Bangko Sentral ng Pilipinas.
Hahn described the EU’s bonds as a stable option for Filipino investors looking to diversify in an uncertain global market.
“Investing in Eurobonds makes sense, especially given the current volatility. It’s not just about the yield. It’s about investing in a currency that’s now the second-largest globally,” Hahn said, urging Filipino investors to consider the stability of the Euro as part of its long-term strategy.
