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Manila Bulletin devider Business devider Trade & Industry devider Philippines' entry into trans-pacific partnership seen to cushion local industries

Philippines' entry into trans-pacific partnership seen to cushion local industries

Published Sep 11, 2025 11:13 pm
The Philippine Chamber of Commerce and Industry (PCCI) said the country’s potential entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) would provide domestic industries with a stable environment for growth amid the emergence of protectionist policies.
In a statement, the country’s largest business organization said it will endorse the government’s formal application to join the CPTPP.
“This strategic move is critical for securing the nation’s economic future at a time of increasing global trade fragmentation and protective measures from traditional partners,” the PCCI said.
Trade Secretary Cristina Roque earlier said that the Philippines is ready to submit its application to join the 12-member bloc.
The CPTPP is among the world's largest free trade areas, representing a combined population of over 500 million and a gross domestic product (GDP) of $13.5 trillion.
The CPTPP is composed of Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the United Kingdom.
According to the PCCI, the potential participation in this free-trade agreement is a "strategic necessity” especially as trading partners are becoming more cautious towards imports.
The United States (US), the Philippines’ top export partner, has been intensifying its protectionist measures since US President Donald Trump returned to office earlier this year.
Trump is imposing a 19-percent reciprocal tariff on Philippine goods, with local industries awaiting potential product-specific levies such as on semiconductors.
The PCCI said this should compel the government to intensify its efforts to diversify the country’s export markets to reduce vulnerability.
“The CPTPP provides a powerful avenue to achieve this, allowing the Philippines to integrate deeper with a bloc of dynamic economies committed to open markets,” the industry group said.
“By joining, the Philippines will gain preferential access to critical markets where it currently lacks bilateral trade agreements, notably Canada, Mexico, Peru, and the United Kingdom,” it added.
For local businesses, having access to the CPTPP would translate to lower tariffs, stability in trade rules, and enhanced investment prospects.
The PCCI said this would empower a wide range of enterprises—from large corporations to micro, small, and medium enterprises (MSMEs)—to expand their reach, integrate into regional value chains, and strengthen their global competitiveness.
Cultivating an environment where businesses can thrive and grow is seen as an essential step to future-proof the economy.
“It will attract high-quality investments in the country, create jobs, and provide our businesses with the platform they need to thrive in an increasingly competitive and protectionist global environment,” the PCCI said.
“We urge the government to pursue this accession with urgency and look forward to supporting the process,” it added.
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