THE Philippines highlighted its commitments to regional economic integration and digital transformation at the 10th Singapore Business Federation (SBF) ASEAN Conference on July 31, 2026.
Department of Trade and Industry (DTI) Secretary Cristina A. Roque joined Singapore Deputy Prime Minister Gan Kim Yong in a ministerial dialogue themed “ASEAN’s Future in a Fractured World.”
With the Philippines and Singapore holding back-to-back ASEAN Chairmanships in 2026 and 2027, the dialogue focused on navigating global trade uncertainties, supply chain disruptions, and rapid technological changes.
During the conference, Secretary Roque highlighted the successful conclusion of negotiations for the ASEAN Digital Economy Framework Agreement (DEFA) in Manila last May, marking a major milestone for the region.
Scheduled for signing at the 49th ASEAN Summit in November, DEFA is designed to harmonize cross-border digital trade, streamline e-commerce, and strengthen cybersecurity across member states.
“As ASEAN’s first region-wide digital economy agreement, DEFA is designed to make digital trade easier, safer, and more seamless across our borders. With successful implementation, studies estimate that DEFA could help grow ASEAN’s digital economy to around USD 2 trillion by 2030,” Roque noted.
The agreement aims to significantly lower transaction costs for micro, small, and medium enterprises (MSMEs), which constitute up to 99% of business establishments in the region. Key provisions cover cross-border data flows, digital payment connectivity, e-invoicing, and online consumer protection.
In addition to digital governance, Roque outlined the Philippine Chairmanship’s “Prosperity Corridors” agenda, which covers critical minerals, intellectual property, artificial intelligence adoption, and support for creative industries.
The Philippines is also pushing for an ASEAN Economic Security Framework to safeguard supply chains and bolster economic resilience.
Beyond regional initiatives, the Philippines continues to expand its global trade ties. In July 2026, the nation concluded negotiations for the Philippines–Chile Comprehensive Economic Partnership Agreement—its first free trade agreement in Latin America.
The deal builds on solid momentum, with Philippine exports rising 11.1% to USD 29.93 billion from January to April 2026, marking 16 consecutive months of growth.
