Philippines and Japan Take Helm of East Asia Business Council for 2026
The East Asia Business Council (EABC) has officially transferred its chairmanship from Malaysia and China to the Philippines and Japan for the year 2026. This significant transition underscores the Council's ongoing commitment to fostering private sector involvement in regional economic collaboration across East Asia.
New Leadership and Strategic Vision
Under the leadership of Jay Y. Yuvallos, who serves as the new EABC chair, and Tetsuya Matsuoka as co-chair, the Council is poised to advance its mission. Yuvallos, also the president of the Cebu Chamber of Commerce and Industry, brings local business insights to the regional stage. The incoming leadership has adopted the theme Reinforcing Trust, Integration, and Sustainability in the East Asia Economic Architecture, signaling a focus on building confidence among investors and enhancing economic frameworks.
Key priorities for 2026 include promoting sustainability initiatives, integrating regional value chains more effectively, and optimizing the use of the Regional Comprehensive Economic Partnership (RCEP). The Council aims to strengthen governance and ensure a stable business environment to boost investor confidence. Specific deliverables and action plans will be finalized through consensus among EABC member economies.
Reflecting on 2025 Achievements and Challenges
The outgoing chairmanship, led by Malaysia with China as co-chair, presented a comprehensive review of the EABC's 2025 work program. This program addressed critical issues such as rising trade uncertainty, supply chain pressures, and increasing protectionism in the region. Practical recommendations were developed to help businesses navigate these challenges.
A highlight of 2025 was the EABC Jetro Business Outlook Survey, which garnered a record 535 responses from companies across the ASEAN Plus Three region. The survey revealed cautious business sentiment, persistent cost pressures, and a need for greater practical knowledge and confidence in utilizing the RCEP, particularly among smaller enterprises.
Focus on Supply Chains and MSME Support
In response to these findings, the EABC's 2025 activities emphasized enhancing supply chain resilience, accelerating digital transformation, improving trade facilitation, and supporting micro, small, and medium enterprises (MSMEs) during the sustainability transition. The Council advanced several implementation-focused proposals, including:
- Digitalization of Certificates of Origin and other trade documents to streamline processes.
- Wider adoption of tools like the ASEAN Tariff Finder to simplify trade compliance.
- Closer coordination among member economies to reduce barriers for companies operating in multiple markets.
EABC's Role and Structure in Regional Integration
Established in 2003 following recommendations by the East Asia Study Group and endorsed by ASEAN Plus Three leaders, the EABC serves as the official private sector body dedicated to supporting regional integration and cooperation. The Council includes representatives from each member economy, with three nominees per economy—one specifically from the SME sector—to ensure diverse business representation.
The EABC's mandate is to provide private sector recommendations for ASEAN Plus Three economic cooperation, promote trade and investment, and champion inclusive, sustainable, and innovative growth throughout East Asia. This transition marks a pivotal moment for the Philippines and Japan to lead these efforts in 2026.
