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Sunday, Jun 01, 2025
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Philippines to Submit Application for CPTPP Membership
The Philippines plans to formally apply to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership within the first half of the year.
The Philippine government is preparing to submit a formal application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) within the first half of 2023, according to a statement from the Department of Trade and Industry (DTI).
Trade Secretary Cristina Roque made this announcement during a meeting with Chilean Vice Minister of Trade Claudia Sanhueza on May 15 at the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade Meeting held in Jeju, South Korea.
This engagement was part of ongoing discussions about the Philippines' interests in becoming a member of the CPTPP.
In her remarks, Roque emphasized the significance of Chile's support during past joint economic discussions, notably at the Joint Economic Committee meeting in November, and expressed hope for continued assistance during the accession process.
The CPTPP currently includes a total of 12 member nations: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the United Kingdom.
It was originally based on the Trans-Pacific Partnership (TPP), from which the United States withdrew in 2017 under President Donald Trump.
The Philippines has shown interest in this trade agreement since its inception, recognizing the potential benefits for the nation’s economy by expanding its free trade agreements and gaining access to new markets for its goods and services.
The drive for additional trade agreements is viewed as crucial in the context of increasing market uncertainties, particularly due to the U.S. imposing reciprocal tariffs on various trading partners, fueling global trade tensions.
In addition to discussions regarding CPTPP membership, Secretary Roque and Vice Minister Sanhueza also touched on the ongoing negotiations for the Comprehensive Economic Partnership Agreement (CEPA).
Following the official launch of CEPA negotiations in December 2022, Roque expressed optimism that the agreement could enhance trade in both goods and services by integrating modern trade elements, including digital trade, labor standards, and sustainability practices.
Trade Secretary Cristina Roque made this announcement during a meeting with Chilean Vice Minister of Trade Claudia Sanhueza on May 15 at the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade Meeting held in Jeju, South Korea.
This engagement was part of ongoing discussions about the Philippines' interests in becoming a member of the CPTPP.
In her remarks, Roque emphasized the significance of Chile's support during past joint economic discussions, notably at the Joint Economic Committee meeting in November, and expressed hope for continued assistance during the accession process.
The CPTPP currently includes a total of 12 member nations: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the United Kingdom.
It was originally based on the Trans-Pacific Partnership (TPP), from which the United States withdrew in 2017 under President Donald Trump.
The Philippines has shown interest in this trade agreement since its inception, recognizing the potential benefits for the nation’s economy by expanding its free trade agreements and gaining access to new markets for its goods and services.
The drive for additional trade agreements is viewed as crucial in the context of increasing market uncertainties, particularly due to the U.S. imposing reciprocal tariffs on various trading partners, fueling global trade tensions.
In addition to discussions regarding CPTPP membership, Secretary Roque and Vice Minister Sanhueza also touched on the ongoing negotiations for the Comprehensive Economic Partnership Agreement (CEPA).
Following the official launch of CEPA negotiations in December 2022, Roque expressed optimism that the agreement could enhance trade in both goods and services by integrating modern trade elements, including digital trade, labor standards, and sustainability practices.
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