THE upcoming review of the Regional Comprehensive Economic Partnership (RCEP) should address practical barriers that prevent businesses from fully benefiting from the trade deal, business leaders and government officials said.
The East Asia Business Council (EABC) held the inaugural RCEP Business and Investment Summit in Manila as companies navigate geopolitical tensions, protectionism, tariff disruptions and vulnerable supply chains.
EABC chairperson Jay Yuvallos said businesses need to build resilience into their supply chains as global trade becomes more uncertain.
“The business model that served us for decades was built around ‘Just-in-time.’ Now, ‘Just-in-time’ must increasingly be matched with ‘Just-in-case,’” Yuvallos said.
He said regional integration could give businesses a strategic advantage by helping them diversify suppliers, production networks and markets.
The summit comes ahead of RCEP’s first General Review, which will examine how the agreement can better respond to business needs.
While tariff preferences remain important, companies also face customs procedures, sourcing requirements, standards, documentation, logistics and financing issues that can limit their ability to use trade agreements.
Trade and Industry Secretary Ma. Cristina A. Roque urged businesses to provide the government with specific feedback on these barriers.
“We need your feedback. Tell us what needs to work better—customs procedures, sourcing requirements, and other barriers that affect your operations,” Roque said.
She also called for greater use of existing free trade agreements to boost Philippine exports. The country’s exports rose 15.4 percent in 2025 to a record high, she noted.
“These FTAs remain as agreements unless we maximize or use their full potential,” Roque said.
RCEP gives Philippine businesses access to a market of more than 2.3 billion people and opportunities to diversify suppliers, expand production and reach new customers.
The Philippines is also seeking to strengthen its role in the wider Asean+3 economic region, which includes China, Japan and South Korea. The country participates in 23 free trade agreements and has export strengths in sectors such as semiconductors and agriculture.
The summit also highlighted the need to bring more micro, small and medium enterprises into regional value chains. While many MSMEs may not become direct exporters, they can participate as suppliers, distributors and service providers.
Yuvallos said businesses, particularly MSMEs, need easier access to information and support to take advantage of RCEP.
As the General Review approaches, the EABC said the private sector should help identify barriers and develop solutions to improve regional connectivity, investment, competitiveness and supply-chain resilience. / KOC