FURTHER DELAY in joining the Regional Comprehensive Economic Partnership trade deal would be “prudent” in light of the struggles of the agriculture industry, with consequences of late joining expected to be mild, industry representatives said. READ:
cation. The Philippine economy, at this time and a couple of years from now, may still be wobbly,” Roy S. Kempis, retired Pampanga State Agricultural University professor, said in a Viber message toThe Philippines is still in the process of recovering from the pandemic, he added, while newly-elected members of government continue to work towards political and economic stability.
President Ferdinand R. Marcos, Jr. recently declared his support for joining the world’s largest trade bloc. “There should be no effect on our trade of a delay in RCEF ratification because all the opportunities offered by RCEP remain available to us under our existing FTAs ,” Federation of Free Farmers National Manager Raul Q. Montemayor toldHe expressed doubt that potential investors consider Philippine membership in RCEP a “crucial factor” in deciding on investing.
On the other hand, Asian Institute of Management economist John Paolo R. Rivera said in a Viber message that delaying accession would also delay access to the trade deal’s bene“It would also delay our adjustment period to the new circumstances, when our neighboring economies who ratiVictor Andres C. Manhit, president of the Stratbase ADR Institute, said in a text message that delay in joining the RCEP will also lead to lost opportunities in exports and employment.
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