Marcos expecting regional trade to offset threat to ‘rules-based order’

Source: BusinessWorld – BusinessWorld Online | Original Published At: 2025-10-29 12:27:45 UTC

Key Points

• Philippines to strengthen regional trade networks through ASEAN frameworks
• ASEAN Trade in Goods Agreement and RCEP utilization emphasized for economic stability
• Focus on sustainable growth through climate adaptation, digital transformation, and green jobs
• Bilateral meetings with Japan, EU, Canada, Vietnam, Australia, and UN discussed trade and maritime cooperation
• Philippines to assume ASEAN chairmanship in 2026 with focus on inclusivity and connectivity

PRESIDENT Ferdinand R. Marcos, Jr. said the Philippines will play a prominent role in regional trade and investment networks as ASEAN leaders called for measures to boost resilience in the face of uncertain global markets.

In his arrival statement in Manila after attending the 47th ASEAN Summit in Kuala Lumpur, Mr. Marcos said ASEAN is pushing to strengthen trade ties to uphold a “rules-based, open, inclusive, transparent, and non-discriminatory” economic order.

The bloc’s ongoing efforts on trade include revisions to the ASEAN Trade in Goods Agreement and greater utilization of the Regional Comprehensive Economic Partnership (RCEP), which are expected to provide “transparency, stability, and predictability” for investors, he said.

“At a time when the rules-based trading system faces significant challenges, these agreements will provide transparency, stability, and predictability — key foundations for building confidence among businesses and investors, and for sustaining ASEAN’s role as a driver of regional and global growth,” Mr. Marcos said.

He said the Philippines will continue to deepen partnerships with economies that share its commitment to peace and development, while asserting its sovereign rights in the South China Sea in accordance with international law.

At the summit, ASEAN leaders discussed efforts to “future-proof” ASEAN economies through sustainable growth, with a focus on climate adaptation, education, green jobs, and digital transformation.

Mr. Marcos said discussions with the International Monetary Fund, Group of 20, and BRICS underscored ASEAN’s central role in global value chains.

On the sidelines, Mr. Marcos held bilateral meetings with leaders from Japan, the European Union, Canada, Vietnam, Australia and the United Nations, with talks centering on trade, maritime cooperation, and investment promotion.

He also welcomed Timor-Leste’s accession as ASEAN’s 11th member, saying the Philippines supports capacity-building efforts to integrate the new member into the bloc’s economic and political frameworks.

The President said the Philippines is preparing to assume the ASEAN chairmanship in 2026, during which it will focus on inclusive growth, sustainability, and regional connectivity.

“We look forward to carrying ASEAN forward as we navigate our future together,” he said.

ASEAN is the world’s fifth-largest economy, with a combined gross domestic product of around $4 trillion in 2023 and a population exceeding 670 million.