President Ferdinand R. Marcos Jr. called for accelerated accession, more effective implementation, and expanded business support under the Regional Comprehensive Economic Partnership (RCEP).
At the 5th RCEP Leaders’ Summit on Monday, October 27 in Kuala Lumpur, the President said these actions will enable Filipino micro, small, and medium enterprises (MSMEs) to use RCEP for sourcing quality materials, finding new buyers, and expanding their reach in international value chain global value chains. He added that full implementation of the agreement will further promote fair trade and stronger cooperation among ASEAN countries.
As evidence of this potential, the Philippines has already benefited from deeper regional trade under RCEP in 2024, when member countries accounted for 47.7 percent of the country’s exports and 71.9 percent of its imports.
These figures demonstrate how RCEP connects Filipino workers, consumers, and businesses to a broader network and opens more opportunities for trade and growth.
Aside from trade, RCEP also supports areas like digital economy, supply-chain connectivity, competition and consumer protection, green economy, and energy materials. These give local enterprises more chances to grow, innovate, and compete globally.
Trade and Industry Secretary Cristina A. Roque accompanied the President during the said Summit where she highlighted that RCEP is a strategic framework that will help strengthen the country’s trade position in the region.
“By fully using RCEP and working closely with our FTA partners, the Philippines can achieve greater economic progress, broader opportunities, and shared prosperity. With open markets and new prospects in digital and green industries, we are building a region and a nation that uplifts every Filipino,” Secretary Roque said.
This year’s Summit was the first RCEP Leaders’ Meeting since the agreement’s signing in 2021. Amid global trade uncertainties, RCEP remains an essential mechanism for economies to uphold open, transparent, and mutually beneficial trade.
