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Philippine agriculture contracted 4.53 percent in the first quarter of 2016 due to a prolonged dry spell and damages caused by typhoons in the later part of 2015.
The Philippines and Member States of the European Free Trade Association (EFTA) – Iceland, Liechtenstein, Norway, and Switzerland – signed a comprehensive Free Trade Agreement (FTA) on April 28, 2016.
The U.S. has long been the leading supplier of wines to the Philippines and, since 2009, the Philippines has been the largest U.S. wine market in Southeast Asia in terms of volume.