RCEP

MANILA – As the Senate concurred with the ratification of the Regional Comprehensive Economic Partnership (RCEP) Tuesday evening, ...

“We also thank the House of Representatives under the leadership of Speaker Ferdinand Martin Romualdez for expressing their support for the RCEP Ratification through House Resolution No. “We have to capitalize on the benefits of the agreement, as it will help provide the Filipino people with more avenues for better economic opportunities and outcomes. “We especially thank Senate President Juan Miguel Zubiri and Senate President Pro Tempore Lorna Regina ‘Loren’ Legarda for sponsoring the RCEP ratification and for defending this much-needed agreement for the economy,” she said. Risa Hontiveros voted no, while Sen. Sen. National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan thanked the Senate for taking the “bold and game-changing move” by concurring with the RCEP ratification that will allow the Philippines to implement the commitments and take advantage of the benefits under the trade pact.

Senate President Juan Miguel “Migz” Zubiri said he is confident the Philippines will reap more benefits as the Philippines joins the Regional Comprehensive ...

Let us fix our problems in the agri sector, while also giving our other industries a fair chance to grow under RCEP. “We have to look at the totality of it. But if we don’t join RCEP, we are also depriving other industries opportunities for growth,” he explained.

By Alyssa Nicole O. Tan, Reporter. Philippine senators on Tuesday backed progressively lower tariffs under the world's largest free trade agreement, ...

“There is very little within the RCEP agreement that cannot be secured from the existing FTAs. “The agricultural sector said in the last Congress that they are not ready, we are not prepared agriculturally to really compete on a level playing field. While previously, investors may have written off the Philippines, now, the country is back in contention,” he said in a Viber message. “The future of our country depends so much on our ability to attract investors, particularly foreign capital because the domestic capital is not enough.” A Senate Special Oversight Committee on the RCEP agreement will also created, headed by the Senate President Pro Tempore. Cainglet, executive director of Samahang Industriya ng Agrikultura (SINAG), told BusinessWorld in a Viber message. We will be left behind in foreign direct investments. We have not recovered from the pandemic.) This is not the time for RCEP. On Tuesday evening, the only senator who voted against the RCEP concurrence is Senator Ana Theresia “Risa” N. In a statement on Tuesday, Mr. Pimentel III said during the plenary session. The RCEP was ratified by then-President Rodrigo R.

(1st UPDATE) Joining the Regional Comprehensive Economic Partnership is a priority measure of President Ferdinand Marcos Jr. His sister, Senator Imee Marcos ...

RCEP is a trade pact between the 10 members of the Association of Southeast Asian Nations (ASEAN), along with Australia, China, Japan, South Korea, and New Zealand. If we don’t join RCEP, investors will go to other countries, because their market is broader.) – Rappler.com Marcos’ son, Ilocos Norte 1st District Representative Ferdinand Alexander Marcos, was among the House leaders who supported RCEP. There will be trade diversion. Kung hindi tayo sasali sa RCEP, sa ibang bansa pupunta ang investors, dahil mas malawak na ang kanilang merkado,” Zubiri explained. President Ferdinand Marcos Jr.’s sister, Senator Imee Marcos, abstained.

The Senate ratified on Tuesday the Regional Comprehensive Economic Partnership (RCEP) with 20 senators voting for Senate Resolution No. 485.

This is not the time for RCEP,” Hontiveros said in a mix of English and Filipino. “These represent millions of Filipinos who say that our country is not ready for this deal, that we already obtain the benefits from our other agreements, and that we even stand to lose. “I would like to stress that my worry is brought by my principle, not because I’m the sister of someone powerful, but because of my father’s legacy which is to prioritize the marginalized — farmers and the needy,” she said. We have not recovered from the pandemic. 485 is hereby approved on third and final reading,” he added. The calculations for me are simple, Mr.

Garment exporters forecast as much as 12 percent increase in exports this year with minimum 8 percent growth contribution from countries under the Regional ...

CONWEP also presented to the President some intervention measures to help the industry. Last year, CONWEP officials joined President Ferdinand Marcos Jr.’s visit to the US where they met some American buyers. Based on their analysis, Jocson-Agoncillo said that base figure 2021-2022 showed that RCEP members alone account for 19.3 percent or $315 million of total $1.633 billion exports to the world in 2023.

Department of Trade and Industry Secretary Alfredo Pascual believes local businesses are ready for the trading arrangements that will come with the Regional ...

485](https://www.gmanetwork.com/news/money/economy/861589/philippine-senate-concurs-with-rcep-ratification/story/), concurring with the ratification of the trade agreement. Senator Ana Theresia “Risa” Hontiveros voted against it, while Senator Maria Imelda Josefa [“Imee” Marcos abstained](https://www.gmanetwork.com/news/topstories/nation/861613/risa-votes-no-imee-abstains-in-senate-rcep-vote/story/). “We just have to rely on our expectation that RCEP will lead them towards a favorable decision in investing in the Philippines and making the [country] their production base or supplying the goods to the RCEP region,” he said.

MANILA, Philippines — The Philippines joined the Regional Comprehensive Economic Partnership Agreement or RCEP on Tuesday. The Marcos Jr. administration ...

Likewise, farmers selling their goods and wares within the free market will need to compete with advanced economies. “As the RCEP commitments deepen over time, it will make trade in Asia for Asian final markets more attractive. Groups lamented it would inevitably unleash market forces on the economy, considering food production in the country is woefully dependent on imports to address spikes in demand. Agriculture stakeholders long voiced their opposition to the Philippines joining this trade bloc. It’s the largest existing trade bloc right now. MANILA, Philippines — The Philippines joined the Regional Comprehensive Economic Partnership Agreement or RCEP on Tuesday.

MANILA -- The Philippine Senate has ratified the Regional Comprehensive Economic Partnership, completing the process for participation in the world's.

Senate President Pro Tempore Loren Legarda said RCEP could help advance the country's agricultural sector and the nation's economy.

That is why we solicited the inputs of our farmers and fisherfolk. If the Department of Agriculture does not do their job in terms of eliminating smuggling and in terms of giving help to farmers who cannot access the Rice Competitiveness Enhancement Fund, life will not be better for our farmers and fisherfolk,” she said. The resolution the Senate approved contained the concerns of the various stakeholders and rcep oppositors. The remaining agricultural tariff lines will have equal, or higher rates than other ASEAN+1 FTAs, or are excluded from import tariff concessions under the RCEP. Zubiri and she did was to create an oversight committee to strictly monitor the government agencies’ support programs for msme, and the agriculture sector. Legarda noted that only 15 agricultural commodity groups corresponding to 33 tariff lines would have lower tariff rates than some ASEAN+1 FTAs under RCEP.

The country's participation in RCEP will be effective 60 days after the Philippines has deposited the RCEP ratification of Secretary General of ASEAN. In the ...

He explained that RCEP is not more on tariffs because the Philippines has been trading at preferential rate with 10 of the 15 RCEP countries already and long before RCEP came about. On the part of the business sector, the Philippine Chamber of Commerce and Industry (PCCI) said they have been ready for a long time. “We’ll support government policies that ensure Philippine businesses, especially manufacturing, are up to the challenge and opportunity. RCEP will help MSMEs expand market access, especially with more liberal rules of origin on traded products to qualify for trade concessions. Rubio attended the final Senate RCEP session and has manifested the agency’s readiness and awareness on the need to put a stop to smuggling. This will be the basis for the Bureau of Customs to issue a memorandum circular on the new tariffs on products traded within the RCEP region. He explained that RCEP provides an enabling environment for businesses and the public in general to take advantage of. “If smuggling is not curbed, it will remain a problem to our farmers,” he said. The ball is now in the hands of the business sector to take advantage of opportunities, said Trade and Industry Secretary Alfredo E. The country’s participation in RCEP will be effective 60 days after the Philippines has deposited the RCEP ratification of Secretary General of ASEAN. One study showed that the RCEP impact is a 1.93 percent increase on real gross domestic product by 2031 yet. The private sector also lauded the Senate for their concurrence with RCEP ratification.

At the same time, Jayson Cainglet, executive director of the Samahang Industriya ng Agrikultura (SINAG) praised Senators Risa Hontiveros and Imee Marcos as he ...

We have enough laws that should have protected the sectors, but they were never implemented and now they want to assure us with guidelines and oversight work?" "No amount of sugar coating can hide the disastrous impact of RCEP on the country, especially to the agriculture sector. We salute the valiant efforts of Senator Hontiveros and Senator Marcos.

The Philippines officially joined the Regional Comprehensive Economic Partnership (RCEP) despite strong opposition from Filipino farmers.

whether or not there is RCEP, we need to invest in agriculture,” Balisacan said. “The future of our country depends so much on our ability to attract investors, particularly foreign capital because the domestic capital is not enough... expressed his support for RCEP, a shift from his earlier pronouncement that he would study its impact on the local agriculture sector. But why is it important for the country? By being a member, we are saying to the world that we are ready for business, we play the rules of the game well, and your investments are safe with us,” he said. National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan has long been pushing for the Philippines to join RCEP, seeing this as a “vehicle” that would drive the local economy’s sustained growth.

MANILA – The ratification of the Regional Comprehensive Economic Partnership (RCEP), the world's biggest free trade agreement, shows the world that the ...

“Being part of this regional free trade agreement holds immense potential for promoting economic growth and development across the Asia-Pacific and brings numerous opportunities for our country, particularly in the areas of agriculture, manufacturing, and micro, small and medium enterprises (MSMEs),” he added. “We are proud of the swift ratification of the Regional Comprehensive Economic Partnership Agreement, demonstrating our commitment to openness and a thriving business environment,” Marcos said. MANILA – The ratification of the Regional Comprehensive Economic Partnership (RCEP), the world's biggest free trade agreement, shows the world that the Philippines is committed to economic openness, President Ferdinand R.

Despite the outcry from farmers and fisherfolk, President Marcos lauded yesterday the Senate's ratification of the Regional Comprehensive Economic ...

This will threaten our local industry that has been neglected of significant government support and which will be outcompeted by imports,” he said. “It would be wrong to simply argue that we must join it because others did. We have enough laws that should have protected the sectors, but they were never implemented,” SINAG executive director Jayson Cainglet said in a statement. The portion on the so-called guidelines would not be necessary if we had a successful economy under WTO Part I,” he said in a Viber message, referring to the World Trade Organization. “We respect the Senate’s decision, and we hope and pray that things will work out well in the future. “No amount of sugar coating can hide the disastrous impact of RCEP to the country, especially to the agriculture sector.

(UPDATE) SAMAHANG Industriya ng Agrikultura (Sinag) Executive Director Jayson Cainglet on Wednesday said that no amount of sugar coating can hide the ...

Agricultural growth averaged just 1.2 percent from 2017 to 2021, a far cry from the historical average of 3.8 percent since the end of World War 2," Ramos added. "The Senate is composed only of 24 individuals, but millions of Filipinos will be affected by the RCEP. "We hope and pray that things will work out well in the future. "This free trade mindset has undermined our food security, much more our food sovereignty where we decide our own agriculture and food policy. We have enough laws that should have protected the sectors, but they were never implemented and now they want to assure us with guidelines and oversight work?" "Senators Risa Hontiveros and Imee Marcos were the last men standing up for the local producers.

Positive expectations ran high among economic managers on Wednesday after Philippine Senate's concurrence with the Marcos administration's participation in ...

“We welcome the prompt and decisive action of the Senate to ratify the RCEP. “The RCEP Agreement is an instrument that will further our economic trade with participating Asia - Pacific nations. in November 2022, and had since been up for Senate concurrence. The Department of Trade and Industry expects the RCEP to generate a 10.47% increase in the country’s exports and a 2.02% increase in real gross domestic product. We have to capitalize on the benefits of the Agreement, as it will help provide the Filipino people with more avenues for better economic opportunities and outcomes. In a statement, Finance Secretary Benjamin Diokno said, “The ratification of the RCEP is key to a more open, transparent, and predictable trade and investment environment.”

THE PHILIPPINES is hoping to attract more foreign investments and boost its exports once the Regional Comprehensive Economic Partnership (RCEP) trade deal takes ...

The ratification of RCEP is a further support to that and I strongly believe that it would be a great help to the economy,” Mr. Evangelista said the government will strengthen its programs to boost the capacity of farmers and fisherfolks. They cannot just pass on the blame to the Executive Department, which they themselves acknowledged has had a long track record of broken pledges and poorly implemented programs,” Raul Q. “We want to bring companies to the Philippines, not just because the country is an important market in its own right, but as a gateway to Southeast Asia. executive director, said that the Philippines’ participation in RCEP will increase competition, which will benefit consumers through higher quality products and better prices. Sixty days after receipt of the instrument of ratification, the RCEP agreement will take effect in the Philippines,” Trade Assistant Secretary and RCEP Lead Negotiator Allan B. This EO will be used by the Bureau of Customs as the basis to implement the tariffs under the trade deal. The government’s solution has so far been business-as-usual, including further liberalization by entering into trade agreements such as RCEP,” Trade Justice Pilipinas said. “Next step is that we will have to deposit the instrument of ratification to the Secretary General of ASEAN. “This is another positive move for the Philippines. Gepty said an executive order (EO) containing the schedule of the Philippines’ tariff commitments will be drafted, and submitted to President Ferdinand R. Balisacan said in a statement.

The seven members of the Joint Foreign Chambers in the Philippines on Wednesday lauded the Senate's ratification of the Regional Comprehensive Economic ...

“We laud the Philippine Senate for its prompt action on this very important treaty. The country’s economic managers say the Philippines has an advantage as it can serve as a gateway to the ASEAN region, and boasts of a young, growing workforce, and stable legal regime, particularly on intellectual property and competition policy. The JFC is a coalition of the American, Australian-New Zealand, Canadian, European, Japanese, Korean chambers and the Philippine Association of Multinational Companies Regional Headquarters, Inc. This makes the country an ideal manufacturing and research and development hub, even for non-RCEP countries. “With the strong support of Congress, yesterday’s concurrence to the RCEP Agreement is a testament to the government’s commitment to creating an environment conducive for trade and investments that are catalysts for job creation, skills development, and technology transfer as we seek to transform the Philippine economy in the next six years,” Balisacan added. “It reinforces the decision of many of our members to invest in the Philippines and will attract more investment from our home countries,” the group said in a statement.

Metro Manila (CNN Philippines, February 22) — President Ferdinand Marcos Jr. on Wednesday expressed pride in the country's "swift ratification" of the ...

Will PH benefit from it?](https://www.cnnphilippines.com/business/2023/2/22/RCEP-explainer-Philippines.html) [ratification](https://www.cnnphilippines.com/news/2023/2/21/RCEP-takes-effect-in-PH-as-Senate-concurs-with-ratification.html?fb) of the treaty on Tuesday, despite objection from over 100 groups. Metro Manila (CNN Philippines, February 22) — President Ferdinand Marcos Jr.

Metro Manila (CNN Philippines, February 22) — President Ferdinand Marcos Jr. on Wednesday expressed pride in the country's "swift ratification" of the ...

Will PH benefit from it?](https://www.cnnphilippines.com/business/2023/2/22/RCEP-explainer-Philippines.html) [ratification](https://www.cnnphilippines.com/news/2023/2/21/RCEP-takes-effect-in-PH-as-Senate-concurs-with-ratification.html?fb) of the treaty on Tuesday, despite objection from over 100 groups. Metro Manila (CNN Philippines, February 22) — President Ferdinand Marcos Jr.

RCEP will only add to the farmers' woes because the Philippines is still “unprepared” to be part of the trade agreement, critics insist.

At present, we are struggling to provide basic agricultural services that were promised as early as 1994 with the WTO (World Trade Organization),” she said. “It seems that the responses given to me [by the proponents] carried a hint of personal affront. Yet studies show that the income of farmers fell by 40 percent,” she noted. This is not the time for RCEP,” she said, addressing Senate President Juan Miguel Zubiri. This was not our own doing, but I worry that the consequences may be grave and inter-generational,” she said. We have not fully recovered from the effects of the pandemic. “As a free-trade agreement, we ask that we be wary of it as our economy has not prospered under FTAs,” it added, alluding to the country’s 20-year membership in the WTO. MANILA, Philippines — The lone dissenter in the Senate’s ratification of the Regional Comprehensive Economic Partnership (RCEP), Sen. In her manifestation, Sen. “The calculations for me are simple, Mr. I just wish to stress that my fear is based not on my relationships with the powers that be, but based on the legacy of my father that the welfare of the marginalized farmers and the needy should always be the top priority,” she pointed out. (They) represent millions of Filipinos who say that our country is not ready for this deal, that we already obtained the benefits from our other agreements, and that we even stand to lose,” she said.