THE country’s assumption of the chairmanship of the East Asia Business Council (EABC) 2026 is expected to widen market access and lower trade barriers for small and medium enterprises (SMEs), as the country pushes for deeper private-sector participation in the Regional Comprehensive Economic Partnership (RCEP).
Cebu Chamber of Commerce and Industry president Jay Yuvallos, who concurrently chairs the EABC Philippines and the regional council, said the role gives the private sector a stronger voice in shaping East Asia’s business priorities at a time when trade patterns are rapidly shifting and supply chains are being reconfigured.
The EABC represents Asean’s 11 economies, now expanded to include Japan, China and South Korea, and serves as the main private-sector platform linked to RCEP — currently the world’s largest trading bloc, covering about US$30 trillion in combined gross domestic product and 2.3 billion people.
The Philippines holds the chair with Japan serving as co-chair, represented by Tetsuya Matsuoka. This year’s leadership is focusing on advancing digitalization, promoting sustainability and circular economy, strengthening supply chains and enhancing the role of micro, small and medium enterprises in East Asia’s economic growth.
Yuvallos said the Philippines’ leadership of both the EABC and the RCEP Business Advisory Council allows it to promote policies that make the trade framework more accessible to SMEs, which often struggle with complex rules, compliance costs and limited market information.
“RCEP can look overwhelming for small businesses, but with clear rules and the right support, it actually levels the playing field,” he said, in a 20-minute interview with ANC. “Our goal is to get more Filipino SMEs into the game.”
A key focus of the Philippine chairmanship is moving beyond awareness campaigns to hands-on advisory services and “clinics” that help enterprises understand RCEP rules of origin, digital trade provisions and regional value chains. These are aimed at enabling SMEs to participate not only as exporters, but also as suppliers to larger firms operating in economic zones — effectively plugging them into regional production networks.
The agenda also highlights digitalization and sustainability as growth enablers. Yuvallos said the planned regional digital economy framework, expected to be signed this year, could significantly cut transaction costs for smaller firms by streamlining documentation, payments and certification processes.
“Lower costs and faster payments are critical for SMEs because cash flow is everything,” he said, noting that digital trade platforms could allow businesses to send invoices and certificates securely while speeding up settlements.
Creative industries, including animation, gaming and digital content, were cited as sectors where Philippine SMEs — particularly in Cebu and Metro Manila — can scale up from subcontracting roles to regional partnerships under RCEP’s intellectual property and digital trade provisions.
Business leaders said the success of the initiative will hinge on governance, transparency and trust, which remain key considerations for investors and trading partners. Despite domestic political challenges, Yuvallos said strong institutions and clear processes are essential for the Philippines to remain globally competitive.
Working with the Philippine Chamber of Commerce and Industry, regional chambers and the Department of Trade and Industry, the EABC plans to roll out advisory services nationwide to ensure that RCEP becomes part of the “default mindset” of Filipino entrepreneurs.
“Our ambition is simple,” Yuvallos said. “Get more SMEs ready, get them connected and help them grow with the region.” / KOC