Ensuring better access for EU exporters to the dynamic ASEAN market is an EU priority. Negotiations for a trade and investment agreement between the region and ASEAN began in 2007 and were interrupted by mutual agreement in 2009 to relax a bilateral negotiating format. A Sustainable Impact Assessment (AIS) has been carried out to support negotiations on a free trade agreement between the European Union and the Philippines. The ASA will assess the potential impact of trade and trade provisions on economic, social, human rights and environmental elements in any trading partner and in other countries in a future free trade agreement. This chapter is generally consistent with WTO rules and obligations on trade in services. It has separate annexes: 1) financial services; (2) telecommunications services; (3) movement of individuals providing services; (4) shipping and related services; and (5) energy-related services. The Trade and Investment Agreement will develop a key aspect of EU relations with the Philippines, based on the EU-Philippines framework agreement that came into force in March 2018. The agreement contains provisions for remedial measures (Articles 2.12 to 2.15), namely subsidies and countervailing measures, anti-dumping measures, global safeguards and temporary safeguards. For trade statistics between EFTA and the Philippines, see AELE Trade Statistics Tool Negotiations for a EU-Philippines trade and investment agreement were launched on 22 December 2015.
The aim is to conclude an agreement covering a wide range of issues, including tariffs, non-tariff barriers, trade in services and investment, as well as the trade aspects of public procurement, intellectual property, competition and sustainable development. The EU works closely with ASEAN as a whole. Cooperation will be maintained through the EU-ASEAN dialogue, which includes discussions on trade and investment issues between ministers and senior economic officials. The Investment Chapter (Chapter 7) establishes a requirement for contracting parties to authorize the investments of other contracting parties in accordance with their laws and regulations. It also expresses the intention of the parties to offer investors from other parties stable, non-discriminatory and transparent investment conditions and stresses the importance of investment promotion. In addition, the parties recognize that it is inappropriate to encourage investment by relaxing health, safety and environmental standards. Finally, the chapter provides for a review of investment issues within five years of the agreement`s entry into force, taking into account the treatment of non-party parties in other free trade agreements. More information on EU-Philippine trade and investment negotiations, including EU-proposed texts and the report The Trade in Services Chapter (Chapter 6) closely follows the approach of the WTO`s General Trade in Services Agreement (GATS).