The Philippine Chamber of Commerce and Industry (PCCI) said the proposed Digital Economy Framework Agreement (DEFA) could reshape how Philippine businesses take part in the regional digital market, as negotiations move toward completion.
The business group pointed to the Philippines’ role as ASEAN chair this year as a key opportunity to help steer the agreement, which aims to establish shared regional standards for digital trade, online commerce, cybersecurity, digital payments, and cross-border data movement.
“This agreement gives the country a chance not just to adapt to the digital economy but to help lead it,” PCCI said.
According to the chamber, a unified framework would make it easier for firms to operate across Southeast Asia by reducing differences in national rules and lowering compliance costs. It added that clearer and more consistent regulations could help Philippine companies reach more customers and compete more effectively beyond the domestic market.
“For Philippine firms, it means more customers, more opportunities, and a clearer path to compete regionally in the digital economy,” the group said.
PCCI also highlighted the broader economic impact of DEFA, noting that ASEAN’s digital economy is already on course to reach around $1 trillion by 2030. It said the agreement could help the Philippines attract investments, support exporters, and strengthen the position of Filipino workers in regional digital supply chains.
While the chamber expects the agreement to be signed within the year, it said the benefits would emerge gradually. Initial gains may be seen within a few years through closer regulatory coordination, while more substantial improvements, such as smoother cross-border digital trade, would take longer to materialize.
“Bigger benefits such as lower compliance costs and smoother cross-border digital trade are expected over five to 10 years,” PCCI said.
The group added that DEFA would build on existing government efforts, including programs on digital finance, cybersecurity, and skills development, rather than require major legal changes. Still, it stressed that international agreements alone are not enough.
“The agreement opens doors, but we still need to help Philippine firms and workers walk through them,” PCCI said, urging continued domestic reforms to ensure businesses can fully benefit from the regional framework.