On May 12, 2020, the Philippines component of the Free Trade Agreement (FTA) and Investment Agreement (IA) between Hong Kong, China and the Association of Southeast Asian Nations (ASEAN) entered into force. The FTA and IA entered into force between Hong Kong and Laos, Malaysia, Myanmar, Singapore, Thailand and Vietnam in 2019.

According to the Hong Kong Trade Development Council (HKTDC), under the FTA, the Philippines will progressively eliminate and reduce customs duties on goods originating from Hong Kong. To enjoy the preferential tariff treatment for exporting Hong Kong goods to the Philippines under the FTA, Hong Kong traders need to comply with the relevant preferential rules of origin and fulfil the related requirements.