Kuala Lumpur, Malaysia—President Ferdinand “Bongbong” Marcos Jr. on Monday urged member states of the Regional Comprehensive Economic Partnership (RCEP) to accelerate the bloc’s expansion and ensure that small businesses fully benefit from the world’s largest free trade agreement.
Speaking at the 5th RCEP Leaders’ Summit in Kuala Lumpur, President Marcos said that amid rising global protectionism, ASEAN’s commitment to a rules-based trading system remains the region’s strongest anchor for economic stability and growth.
“Early expansion of RCEP will not only deepen regional integration and reinforce supply chain resilience, but also reaffirm ASEAN’s central role in shaping the region’s economic future,” President Marcos said.
“By doing so, we strengthen RCEP as a platform that drives prosperity, inclusivity, and ensures that our region remains a vital force in the global economy,” he added.
He emphasized that the success of RCEP depends on how effectively its provisions are translated into real opportunities, particularly for micro, small, and medium enterprises (MSMEs).
President Marcos called on RCEP parties to intensify efforts in raising awareness and building capacity to help businesses better understand and utilize the agreement.
To this end, President Marcos said the Philippines recently hosted an international trade forum aimed at familiarizing local entrepreneurs with RCEP’s trade and investment benefits. The forum, he added, served as a model for broader regional engagement.
“Building on this model, the Philippines would be pleased to work with other RCEP parties to organize a regional campaign as a platform for dialogue, business-matching, and collaboration,” Mr. Marcos said.
“To further demonstrate our commitment, the Philippines will be pleased to host this International Trade Forum in November next year,” President Marcos added.
The president also underscored the importance of adapting RCEP to emerging economic realities, including digital trade, the creative economy, green transition, and innovation.
“RCEP must not only respond to today’s challenges but also anticipate tomorrow’s opportunities,” he said.
The RCEP, which took effect in 2022, is the world’s largest free trade agreement, covering 15 Asia-Pacific economies that collectively account for about 30 percent of global GDP and population.
