Asean, US deepen trade ties with new 2026–2027 cooperation plan

The Association of Southeast Asian Nations (Asean) and the United States (US) have reinforced their economic partnership through a fresh two-year cooperation plan, spanning 2026 to 2027, according to the Philippine News Agency (PNA). This Agreement on Trade and Investment Framework Arrangement (TIFA) Work Plan was approved during a recent meeting in Manila, where Trade Secretary Ma.

Cristina Roque and US Deputy Trade Representative Ambassador Rick Switzer jointly headed the discussion. The new plan is built on the success of the previous 2025-2026 TIFA Work Plan, which saw achievements in areas like the digital economy, trade facilitation, intellectual property rights, regulatory practices, and agriculture.

Both parties emphasized their dedication to sustaining and broadening trade and investment links, even as they face regional and global economic hurdles. As of 2025, Asean and the US had a combined trade volume of $550.5 billion, while the US had invested $30 billion in the region. The 2026-2027 work plan highlights several key areas for further collaboration, including digital economy expansion, support for micro, small, and medium-sized enterprises (MSMEs), streamlined trade procedures, protection of intellectual property, harmonization of standards, good regulatory practices, labor standards, agriculture, competition, consumer protection, and trade management.

The ministers also highlighted the ongoing importance of the Asean-US TIFA, originally established in 2006 and serving as a vital forum for economic dialogue between the two regions for over two decades. The group underscored the need to keep the TIFA relevant and aligned with the shifting priorities of Asean and the United States, ensuring its continued role as the primary platform for advancing economic cooperation between the two entities.