President Ferdinand “Bongbong” Marcos Jr. welcomed the recent ratification of the Regional Comprehensive Economic Partnership (RCEP) Agreement, saying being part of the agreement would open many opportunities for the Philippines.
RCEP is a free trade agreement between the 10 member states of the Association of Southeast Asian Nations and its five FTA partners: Australia, China, Japan, New Zealand, and the Republic of Korea.because of the increased trade it would bring to different member economies.“I don’t see the logic in that. Actually it will be the contrary because… right now kung wala tayo sa RCEP, hindi natin ma-access ang kanilang mga markets.
“Para sa akin [it] is to the advantage of the Philippines [because] the supply chains, the different non-traditional suppliers of agricultural inputs, of agricultural commodities, puwede nating ma-access yun . Without RCEP, we cannot do that,” he added. According to the President, the Philippines will continue increasing its agricultural value chain investments to make it more competitive. He said RCEP would further strengthen the country’s agricultural value chain.
“It opens more trade, more trade. And lagi kong sinasabi ‘di ba walang yumaman na bansa kung hindi dahil sa trade at kailangan we have to involve ourselves in that,” Marcos said.
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