THE head of Spain's foreign trade and investment institute believes a free trade agreement (FTA) between the Philippines and the European Union (EU) is a great opportunity for both sides.

"I think that will be a great opportunity for Europe and for the Philippines," Spanish Institute for Foreign Trade (ICEX) Chief Executive Officer María Peña told reporters in a chance interview on Tuesday at the sidelines of the Philippines-Spain multilateral partnership event at the Fairmont Hotel in Makati City.

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