Department of Foreign Affairs (DFA) Secretary Ma. Theresa P. Lazaro has called on members of the U.S.-ASEAN Business Council to expand trade, investment, and innovation partnerships with the Philippines and the wider ASEAN region, citing the bloc’s growing economic weight and strategic role in global supply chains.
Speaking on June 6, Lazaro said ASEAN is projected to become the world’s fourth-largest economy by 2030, presenting major opportunities for deeper cooperation with U.S. businesses.
Under the Philippines’ ASEAN Chairship, Lazaro said the regional bloc will push for stronger economic integration, more resilient supply chains, digital transformation, and sustainable development.
She said ASEAN is also working to strengthen energy and food security, citing commitments reached during the 48th ASEAN Leaders’ Summit in Cebu. These include efforts to expedite the ratification of the ASEAN Petroleum Security Agreement, upgrade the ASEAN Trade in Goods Agreement, and advance the ASEAN Power Grid.
Lazaro said the planned signing of the ASEAN Digital Economy Framework Agreement in 2026 would further open opportunities for U.S. companies to take part in the region’s digital transformation.
The DFA chief also thanked the U.S.-ASEAN Business Council for helping craft a Strategic Action Plan in support of the Philippines’ 2026 ASEAN Chairship. The plan covers key areas such as food security, healthcare, logistics, the digital economy, and artificial intelligence.
Lazaro likewise promoted the Luzon Economic Corridor, a Philippines-U.S.-Japan initiative that has expanded to include eight partner countries. The corridor focuses on investments in infrastructure, energy, semiconductors, agribusiness, and port modernization.
She invited USABC members to participate in the inaugural Luzon Economic Corridor Investors Forum in Manila in September 2026, saying the platform would help connect investors with priority projects in the Philippines and the region.