Phl enterprises to benefit from 2 major trade deals at ASEAN summit
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Malacañang said Philippine enterprises are poised to benefit from two major trade agreements signed during the 47th Association of Southeast Asian Nations (ASEAN) Summit and Related Summits held from 26 to 28 October in Kuala Lumpur, Malaysia.
President Ferdinand R. Marcos Jr., along with other regional leaders, witnessed the handover ceremony of the Second Protocol to Amend the ASEAN Trade in Goods Agreement (ATIGA) during the ASEAN Leaders’ Summit Plenary yesterday.
The President is also set to join his ASEAN and Chinese counterparts for the signing of the ASEAN-China Free Trade Area (ACFTA) 3.0 Upgrade on Tuesday, 28 October.
According to Frederick D. Go, Special Assistant to the President for Investment and Economic Affairs (SAPIEA), the upgraded ATIGA aims to address current trade challenges by introducing improvements in trade facilitation, transparency, and dispute settlement, while incorporating new and emerging trade elements.
Go said certified traders will benefit from faster cargo clearance across ASEAN through the mutual recognition of Authorized Economic Operators (AEOs). The adoption of Electronic Certificates of Origin (e-Form D) and digital documentation is also expected to simplify compliance requirements for businesses.
“These enhancements make trade more efficient and predictable, particularly for micro, small, and medium-sized enterprises (MSMEs),” Go said in a statement as read by the Presidential Communications Undersecretary and Palace Press Officer Claire Castro at Cambodia
He added that stronger transparency and cooperation provisions will help ASEAN members respond more effectively to new trade policies, allowing MSMEs to anticipate regulatory changes and adapt accordingly.
The inclusion of provisions on remanufactured goods, Go said, “opens avenues for future growth and sustainability across ASEAN economies.”
In a separate statement, Foreign Affairs Secretary Ma. Theresa Lazaro said the ACFTA 3.0 Upgrade marks a milestone in ASEAN-China economic cooperation, focusing on emerging sectors such as the green economy, digital trade, and sustainable supply chain connectivity.
“The ASEAN-China Free Trade Area has long been one of ASEAN’s most important economic partnerships. Now, with the 3.0 Upgrade, both sides are working to make this partnership more modern, more comprehensive, and better aligned with today’s global realities,” Lazaro said.
She added that the upgraded protocol will empower MSMEs to integrate more fully into regional value chains, while frameworks on fair competition and consumer protection aim to promote inclusive and sustainable growth.
The ACFTA 3.0 Upgrade introduces new areas of cooperation, including Competition and Consumer Protection, Digital Economy, Green Economy, Supply Chain Connectivity, and MSME Development.
The original ACFTA covered traditional trade components, including trade in Goods, Rules of Origin, Customs Procedures and Trade Facilitation, Standards and Technical Regulations, Sanitary and Phytosanitary Measures, Trade in Services, Investment, and economic and Technical Cooperation.
