Phl reaffirms commitment to join CPTPP, eyes midyear accession
Daily Tribune - 16 May 2025
Phl reaffirms commitment to join CPTPP, eyes midyear accession
The Philippines, through the Department of Trade and Industry, has reaffirmed its commitment to joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
CPTPP is a Free Trade Agreement (FTA) signed on 8 March 2018 in Santiago, Chile, between Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.
During her meeting with Chilean Vice Minister of Trade Claudia Sanhueza at the sidelines of the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade meeting in Jeju, South Korea, on Thursday, Secretary Roque expressed the country’s plans to accede to the CPTPP within the first half of the year.
“We are grateful for the support that Chile expressed during our Joint Economic Committee meeting last November. We count on Chile’s continued engagement and encouragement throughout the accession process,” the trade chief said.
The Philippines is taking decisive steps to join the CPTPP as part of the country’s broader trade and investment agenda to improve its FTA network and open new markets for Philippine goods and services.
The strategy aligns with the Philippines’ broader push to enhance its global economic integration.
The CPTPP Agreement is a separate treaty that incorporates, by reference, the provisions of the Trans-Pacific Partnership Agreement, except a limited set of suspended provisions.
The CPTPP members have a shared vision for the Agreement, with the aim of ensuring it remains the "gold standard" of trade agreements and is able to adapt to the trade challenges confronting Parties.
Membership is open to other economies if they can meet the Agreement’s high standards, including a record of complying with international trade commitments and gaining consensus support from CPTPP members.
Chile as RCEP member
Meanwhile, Sanhueza, during the meeting, also aired intentions to accede to the Regional Comprehensive Economic Partnership (RCEP).
With this, Roque noted, “We welcome Chile’s application to join the RCEP and view its participation as a valuable addition to the partnership. Chile’s strong economic credentials and clear commitment to open trade make it a fitting partner.”
Also, the two leaders discussed the opening of negotiations for the Comprehensive Economic Partnership Agreement (CEPA).
Following the launch of the CEPA negotiations in December 2024, Secretary Roque expressed optimism for the CEPA’s potential to strengthen trade in goods and services while integrating modern elements such as digital trade, labor, and sustainability.
