Philippines and EU expand cooperation on green and digital growth

The Philippines and the European Union are deepening economic cooperation through expanded partnerships in green transition, digital transformation, and sustainable connectivity. During the 6th Meeting of the Sub-Committee on Development Cooperation in Manila, officials discussed advancing Global Gateway investment projects involving both government and private sectors. Key focus areas include climate resilience, disaster risk reduction, water access, and the circular economy.

Investment support may be provided through EU grants, blended finance, and guarantees to mitigate risks, particularly for development in Mindanao. The European Investment Bank and other European development finance institutions are expected to play significant roles alongside the Asian Development Bank. Strategic discussions also covered the sustainable use of critical raw materials, regional energy integration via the ASEAN Power Grid, and the Luzon Economic Corridor.

Additionally, the two regions are collaborating on higher education and workforce skills through the ASEAN-EU Policy Dialogue. This initiative aims to align education and vocational training with the needs of the blue economy, specifically targeting sectors such as fisheries, maritime transport, coastal tourism, and offshore renewable energy to support sustainable economic growth and ocean health.