The Trans-Pacific Partnership (TPP) agreement is the largest and dubbed as the gold standard of preferential trade agreements in the 21st century. Its twelve founding countries accounted for 40 percent of global GDP and 29 percent of world trade in 2012, and are among the most trade-open in the world today. Not among the twelve, the Philippines is likely to become better off economically, if it is among a second-wave of TPP member states, which includes Thailand, South Korea, Chinese Taipei, Columbia, and Indonesia. The author estimated that Philippine exports may expand by 42 percent and nominal GDP increase by 59 percent with TPP membership using a gravity model of trade involving 109 countries from 1948 to 2012, and a computable general equilibrium (CGE) model of the Philippine economy comprising 50 industries and ten household groups.