By Joyce Ann L. Rocamora
MANILA – The Philippines is pushing for policies that will raise global competitiveness as it prepares for the upcoming Association of Southeast Asian Nations (ASEAN) summit that will gather leaders and dialogue partners in November.
Trade Secretary Cristina Roque chaired the 58th ASEAN Economic Ministers’ Meeting and Related Meetings at the Philippine International Convention Center in Pasay City on Saturday, leading discussions on how to advance trade and investment, digital transformation, MSME (micro, small and medium enterprises) development, innovation, and sustainable growth.
“Governments build infrastructure, and policies and open doors, but it is our innovators, investors, and business leaders who transform opportunities into thriving world-class industries,” she said.
“Let us give our leaders clear recommendations: raise ASEAN’s global competitiveness, and bring lasting prosperity to our people.”
During the meetings, Roque said ministers discussed critical issues and direction that will feed into the upcoming leaders’ discussions at the 49th ASEAN Summit, including the adoption of the landmark Digital Economic Framework Agreement.
“Through our engagements this week, we are actively turning dialogue into action, and momentum into opportunity,” she said.
“From ASEAN Creative Industry Expo to the ASEAN MSME Summit, the Inclusive Business Forum, and strategic roundtables in IT-BPM (Information Technology-Business Process Management) and steel, we are bringing together thousands of business leaders — investors and policymakers — to generate actionable investment leads.”
Roque said the Philippines’ ASEAN hosting serves as “kilometer zero” for the bloc as it marks the first year of implementation of the ASEAN Community Vision.
Despite challenges in international trade, Roque said ASEAN continues to enjoy “sustainable global investor confidence” as reflected in foreign direct investment inflows surging by 10.1 percent to USD245.7 billion.
Trade in machinery and mechanical appliances grew by 25.6 percent in 2024, while electrical machinery and equipment accounted for more than one quarter of ASEAN’s total merchandise trade.
The ASEAN digital economy, she added, is also rapidly growing at current value of USD300 billion in gross merchandise.
“Growth raises the standard for what we must deliver. Our task as ministers is to turn these figures into tangible benefits, deeper integration, and high-value opportunities for our people and enterprises,” she said.
At the 40th ASEAN Free Trade Area Council Meeting on the same day, Roque and the Southeast Asian trade ministers discussed the implementation of the current ASEAN Trade in Goods Agreement (ATIGA) as well as the preparatory work for the early entry into force of the Second Protocol to Amend the ATIGA.
“Supply chains are being tested, production and sourcing patterns are changing, and businesses are having to respond to the changing and the disruptions more quickly,” Roque said.
“For ASEAN, this reinforces the value of an integrated regional market that can support the movement of goods, diversify sources of supply, and provide businesses with greater opportunities within the region.”
Under the Philippine chairship, Roque said the bloc will also focus on strengthening ASEAN’s future agenda and the effectiveness of economic agreements already in place.
Beyond ATIGA, the meeting discussed trade facilitation measures, such as the expansion of the ASEAN Authorized Economic Operator Mutual Recognition Arrangement and the ASEAN Customs Transit System.
The ASEAN Secretariat said the discussions demonstrate the region’s strong push to reinforce the bloc as a single market and production base. (PNA)
