Farmer groups maintain their opposition against the Regional Comprehensive Economic Cooperation (RCEP) as Senate resumes its deliberations Tuesday, Feb. 7, with the executive branch strongly pushing for the country’s participation in the mega trade deal.
Farmer groups maintain their opposition against the Regional Comprehensive Economic Cooperation as Senate resumes its deliberations Tuesday, Feb. 7, with the executive branch strongly pushing for the country’s participation in the mega trade deal.
“True, our country has already implemented game-changing economic reforms. RCEP will complement these reforms and strengthen the country’s enabling environment for business. This regional pact will open a wide range of market opportunities for investors, particularly in export-oriented enterprises, in this era where the center of economic activities is in the region. The Philippines cannot afford not to be part of this mega free trade agreement,” Pascual explained.
RCEP is also seen to complement the country’s national policies and programs, including those in agriculture, micro small and medium enterprises , services, e-commerce, intellectual property, competition, and sustainable development. For his part, Philippine RCEP Chief Trade Negotiator, Assistant Secretary Allan B. Gepty, assured that the concerns raised by groups of farmers are well addressed in the Agreement.
According to the FFF, most of the tariff concessions under RCEP are contained in existing free trade agreements of the Philippines. These concessions are not also exclusive to the Philippines but to all and the additional concessions have minimal trade impact.
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