The Philippines is preparing to take advantage of its chairmanship of the Association of Southeast Asian Nations (ASEAN) in 2026 to strengthen trade and investment ties within the region, the Department of Trade and Industry (DTI) said.
Trade Secretary Hon. Christina A. Roque told reporters that the Philippines assuming the chairmanship would give ASEAN partners an opportunity to take a closer look at the country's business landscape and regulatory environment.
“Sometimes, we just meet them in their country, or they send delegates or representatives. Not like now, they will actually see how everything is – the scenario, the setup, how everything is going,” she said.
As part of its partnership strategy, DTI plans to organize a major business-matchmaking initiative. Ms Roque said priority sectors included renewable energy, minerals and semiconductors.
The agency also plans to highlight the creative economy, women-led businesses and micro, small and medium enterprises (MSMEs) as well as digitalization and artificial intelligence initiatives.
Meanwhile, Ms. Roque said the DTI is also preparing to conclude negotiations on the ASEAN-Canada Free Trade Agreement (FTA).
“Leaders of countries are in talks (regarding FTA). We just have to start,” he said.
The ASEAN-Canada FTA, negotiations for which began in 2021, is expected to expand market access and boost investment between the Asian bloc and the North American country.
According to the DTI, the FTA will expand the Canadian market for Philippine exports, especially electronic products and agricultural goods.
The FTA will also open up more opportunities for Philippine companies to invest in Canada's technology, natural resources and service sectors. , Von Andrei E. Villamiel