By Dean Aubrey Caratiquet
On top of successive free trade agreements championed at the 47th Association of Southeast Asian Nations (ASEAN) Summit and Related Summits held in Kuala Lumpur, Malaysia, President Ferdinand R. Marcos Jr. encouraged fellow participants in the Regional Comprehensive Economic Partnership (RCEP) to strengthen the world’s largest free trade agreement.
In his intervention at the Summit on Monday, Marcos underscored the importance of this cooperation as a timely measure to attain inclusive, sustainable, and resilient economic growth amid global economic uncertainties.
“Amidst today’s global uncertainties, which include shifts to inward trade policies, ASEAN’s commitment to a rules-based trading system remains our strongest anchor. Early expansion of RCEP will not only deepen regional integration and reinforce supply chain resilience, but also reaffirm ASEAN’s central role in shaping the region’s economic future.”
The President cited the Philippines’ recent efforts to enhance awareness of RCEP, including the hosting of an international trade forum that brought RCEP closer to local businesses.
Building on this initiative, President Marcos announced that the Philippines will host an International Trade Forum in November next year and is prepared to work with other RCEP Parties to organize a regional campaign for dialogue, business-matching, and collaboration to boost RCEP utilization.
He likewise stressed that stepping up collaborative efforts on this agreement should translate into tangible, on-the-ground opportunities for businesses, particularly the micro, small, and medium enterprises (MSMEs), urging fellow nations to foster camaraderie in boosting RCEP utilization.
President Marcos Jr. concluded in his remarks, “These efforts are essential if we are to unlock the full value of the agreement and broaden economic opportunities across our economies.”
“RCEP must not only respond to today’s challenges, but also anticipate tomorrow’s opportunities, particularly in digital trade, the creative economy, green transition, and innovation.”
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