Recto urges businesses to turn ASEAN trade deals into investments, jobs

Executive Secretary Ralph Recto on Saturday urged businesses to turn ASEAN partnerships and trade agreements into investments, jobs and growth opportunities, while helping smaller enterprises benefit from closer regional cooperation.

Speaking at the ASEAN Business and Investment Summit, Recto outlined three priorities: translate regional agreements into business opportunities, invest in energy and food security, and make innovation accessible to enterprises of every size.

He said ASEAN must become more connected and dependable as global uncertainty and divisions deepen, while artificial intelligence reshapes industries, competition and the skills workers need.

Preparing for new markets

Recto said ASEAN leaders are expected to sign the Digital Economy Framework Agreement during the Philippines’ chairmanship. The agreement aims to make cross-border data flows more seamless and secure.

He also said negotiations for the ASEAN-Canada Free Trade Agreement had concluded, paving the way for broader markets for goods and services.

READ: PH, Canada conclude free trade talks, to sign deal in 2027

“The value of these agreements will be seen in the enterprises that reach new customers, the investments they attract and the jobs they create,” Recto said.

He encouraged companies to explore new markets, build partnerships and help smaller enterprises enter the supply chains that the agreements would strengthen.

Businesses should also identify remaining obstacles so governments can address them, he added.

Investing in energy and food security

Recto called for investments in stronger power grids, more diverse energy sources, better energy storage and closer coordination on emergency reserves.

He said energy security and food security must be addressed together, citing the need for cold storage facilities, food hubs and efficient transport links to bring more agricultural produce to consumers and reduce waste.

The ASEAN Power Grid and ASEAN Food Security Alliance offer platforms for deeper cooperation, he said, but must be supported by concrete projects and investments.

For households, he stressed, regional resilience should translate into affordable food, reliable electricity and dependable livelihoods.

Making innovation accessible

Recto said small shops, factories and farms must all have a place in ASEAN’s digital future.

“A small entrepreneur needs tools that are affordable, training that is useful and support that is within reach,” he said.

He emphasized the urgency of responding to AI-driven changes in work and business, calling for stronger links among ASEAN’s manufacturing capacity, technological expertise, agricultural resources, financial networks and workforce.

Combining those strengths would help the region compete and withstand disruptions, he said. Similar cooperation in food, energy, logistics and digital services could allow ASEAN economies to capture more value from their industries.

Philippine investment plans

Recto said the Philippines is working to make investment and business expansion easier through CREATE MORE and a more open foreign investment regime under President Ferdinand Marcos Jr.

Investors need clear rules, timely decisions and confidence that commitments will be honored, he said, adding that government must consistently deliver those conditions.

He also highlighted the Luzon Economic Corridor, which aims to bring together infrastructure, efficient logistics, reliable energy and digital connectivity in areas where enterprises can establish and expand operations.

Among the planned developments he cited is a 1,600-hectare technology hub in Clark intended to serve as an anchor for innovation and advanced manufacturing. —KG, GMA News