THE British Chamber of Commerce Philippines (BCCP) said the Philippines’ move into preparatory discussions for accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) could significantly strengthen the country’s trade position, attract more investment, and reinforce its role as a gateway to Southeast Asia, according to BCCP Executive Vice Chairman Chris Nelson.

For Britain, support for Philippine accession is also consistent with the UK’s own strategy as a CPTPP member. The UK government has described CPTPP as a gateway to growth in the Indo-Pacific, saying membership strengthens ties with dynamic economies, opens new markets for service providers, supports digital and data flows, helps diversify supply chains, and encourages investment through more transparent rules.

The BCCP official said CPTPP could also support stronger export performance and foreign direct investment by widening the country’s market reach and improving its attractiveness to companies looking for regional supply-chain positions.

Even so, Nelson made clear that market access alone will not determine whether the Philippines can maximize CPTPP membership. While he said CPTPP “would be a boost,” he also stressed that the Philippines still faces structural barriers that affect investor sentiment and operating costs.

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