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

详细摘要

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

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.

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.

“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.

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

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