The Philippines is a step closer to finally joining the world’s biggest free-trade agreement after the committee report on the Regional Comprehensive Economic Partnership mustered the required signatures to bring it to the plenary meeting for discussion.
Those who did not sign the committee report included Senators Imee Marcos, Cynthia Villar, Christopher Go, Francis Escudero and Risa Hontiveros.
“[There is] really a lot to gain economically, but it will ravage the countryside and kill our farmers,” Marcos added. On the other hand, import tariffs for key Philippine exports will go down. According to the DTI, this is particularly important since a number of Philippine products will gain enhanced market access through lower tariffs, among them canned tuna, coconut water, coffee, fruit cocktail, fresh papaya and durian, ignition wiring sets, leather goods and bicycles.Zubiri has also assured critics that the agriculture sector would be protected under the RCEP’s protection clause for the next 10 years.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
RCEP won’t harm PH agri sector, farmers — ZubiriMANILA, Philippines — The Regional Comprehensive Economic Partnership (RCEP) will not trample farmers and will not kill the country’s agriculture sector, Senate President Juan Miguel Zubiri
Read more »
RCEP reaches Senate plenary for the second timeThe Regional Comprehensive Economic Partnership (RCEP) reached the Senate plenary anew on Wednesday. This, after Senate President Juan Miguel Zubiri and Senate President Pro Tempore Loren Legarda sponsored the mega free trade deal during the session—a step towards the chamber&39;s concurrence to its ratification.
Read more »
Senate leaders send strong push for RCEP | Butch FernandezTHE Senate on Wednesday moved to fast-track ratification of the Regional Comprehensive Economic Partnership Agreement (RCEP), with the chamber’s two top leaders strongly endorsing it on the floor. Senate President Juan Miguel Zubiri delivered an impassioned speech reminding his colleagues the Philippines is “the odd man out, the last man…
Read more »
Senate pledges adequate oversight as RCEP bill elevated to plenary - BusinessWorld OnlineSENATORS sponsored out to the plenary the bill providing the chamber’s concurrence to the Regional Comprehensive Economic Partnership (RCEP), while pledging to exercise adequate oversight when the trade agreement is implemented. Senate President Pro Tempore Lorna Regina B. Legarda, who co-sponsored the legislation, said accession to RCEP comes with strengthened governance. “Attached to the resolution that […]
Read more »
Imee insists RCEP will kill local agri industry despite President's push for ratificationSenator Imee Marcos insisted that the Regional Comprehensive Economic Partnership (RCEP) will kill the local industry, particularly the agriculture sector. Her statement came a day after the treaty was sponsored by top Senate leaders on the plenary.
Read more »
Philippines to import fresh 440,000 MT of sugarThe board of the Sugar Regulatory Administration unanimously approved the plan to bring in 440,000 metric tons of refined sugar to stabilize retail prices and shore up the country’s buffer stock. | jordeenelagare /PDI
Read more »