RCEP is more than just opening new and bigger markets for the Philippines. MBOpinion READ:
According to the Department of Trade and Industry , RCEP is an “agreement to broaden and deepen ASEAN’s engagement with Australia, China, Japan, Korea, and New Zealand. Together, these RCEP participating countries account for about 30 percent of the global GDP and 30 percent of the world population.”
For National Economic and Development Authority chief Arsenio Balisacan, he considers RCEP as a “major game changer” for the Philippine economy, because it would give us “access to a much bigger market.” Under RCEP, the country would have to conform to international standards once it starts shipping its products, particularly agricultural produce, overseas.
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