Source: European Commission (video statements)
Europe’s trade ties are expanding. This week, the EU and the Philippines reached substantial agreement on a new Free Trade Agreement, putting the negotiations on a path towards final conclusion. The deal would liberalise more than 94% of tariff lines, covering over 97% of bilateral trade, while opening new opportunities for businesses on both sides.
Also this week: the European Commission proposed unlocking €4.2 billion in Cohesion funding for Hungary and restoring full access to Erasmus+ and Horizon Europe, following its assessment of measures taken by Hungary on rule of law issues affecting the EU budget. The proposal now goes to the Council, which has one month to decide.
And finally, the EU and Canada joined forces to strengthen global ocean observation. President Ursula von der Leyen and Canadian Prime Minister Mark Carney launched the OceanEye International Alliance, helping secure at least €211 million in financial and in kind pledges from partner countries to support the Global Ocean Observing System.
Catch up on three of the key EU stories from this week and follow the channel for more European news.
For more information, check out our news snippets:
EU and Philippines Reach Substantial Agreement on Free Trade Deal https://www.youtube.com/shorts/HY8s6P5XV1c
Commission Proposes to Unlock €4.2 Billion in EU Funding for Hungary https://www.youtube.com/shorts/Tlbik3mKZKQ
EU and Canada Secure €211 Million for Global Ocean Observation https://www.youtube.com/watch?v=WQ3j6Nm49-k
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