Economic managers and Congress are eager to join the world's largest trade pact. But the measure faces opposition at the Senate, including from Senator Imee Marcos.
MANILA, Philippines- Economic managers of President Ferdinand Marcos Jr. and House lawmakers are pushing hard for the Philippines to join the world’s largest trade pact despite heavy opposition from farmer groups who fear that a wave of imported goods would displace local producers.
“It must be ratified. The future of our country depends so much on our ability to attract investors, particularly foreign capital because the domestic capital is not enough,” National Economic and Development Authority SecretaryBalisacan pushed back against claims that RCEP will hurt local agriculture, the same day as lawmakers deliberated on the trade pact.
Romualdez argued that aside from investment opportunities, RCEP would cure overlapping free trade agreements .
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