Business group supports Philippine entry into trans-Pacific trade bloc

The Philippine Chamber of Commerce and Industry (PCCI) has expressed strong support for the country’s planned entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), saying it would provide stability for domestic industries facing global trade uncertainties.

In a statement, the country’s largest business group said it would formally endorse the government’s application to join the 12-member trade bloc, which includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the United Kingdom.

“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 confirmed that the Philippines is ready to submit its application. If accepted, the country would join one of the world’s largest free trade areas, representing a market of more than 500 million people and a combined gross domestic product of $13.5 trillion.

The chamber noted that the CPTPP could help cushion Philippine exporters from new protectionist measures imposed by the United States, including a 19 percent reciprocal tariff on Philippine goods under President Donald Trump’s administration. Possible additional levies on sensitive exports such as semiconductors have heightened concerns in local industries.

“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,” PCCI 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.”

Business leaders said membership would lower tariffs, improve investment opportunities, and create more predictable trading rules. The chamber emphasized that benefits would extend not just to large firms but also to micro, small, and medium enterprises (MSMEs), which could expand their reach, join regional value chains, and strengthen global competitiveness.

“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,” PCCI said.

The group urged the government to pursue accession “with urgency,” stressing that diversifying markets is essential to safeguard growth and reduce the country’s dependence on traditional trade partners.