The British Chamber of Commerce Philippines has expressed support for the Philippines' bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a major trade pact among Pacific Rim countries. In a statement reported by Philstar Biz, the chamber welcomed preparatory discussions involving the Philippines, Indonesia, and the United Arab Emirates.
The CPTPP is a free trade agreement that originally includes 11 countries such as Australia, Canada, Japan, and Vietnam. Joining the pact could open new markets for Philippine exports, attract more foreign investment, and strengthen supply chain integration with member economies.
The British Chamber's endorsement underscores the growing international interest in expanding the trade bloc. The Philippines, along with Indonesia and the UAE, is among several countries exploring formal accession to the agreement, though no timeline has been set for the negotiations.