Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

DTI’s Pacual calls RCEP a Marcos priority

by
July 14, 2022
in Investing News
0
DTI’s Pacual calls RCEP a Marcos priority
0
SHARES
12
VIEWS
Share on FacebookShare on Twitter
REUTERS

PARTICIPATION in the Regional Comprehensive Economic Partnership (RCEP) is a government priority, Trade Secretary Alfredo E. Pascual said on Thursday.

“RCEP is a priority of the administration. We have clarified this in one of our Cabinet meetings,” Mr. Pascual said during the general membership meeting of the Management Association of the Philippines (MAP) in Taguig City. 

RCEP, a trade deal which started coming into force on Jan. 1, involves Australia, China, Japan, South Korea, New Zealand and the 10 members of the Association of Southeast Asian Nations (ASEAN). It is billed as the world’s largest trade agreement as it represents about 30% of global gross domestic product.

However, the entry of Philippines into RCEP failed to obtain Senate in the 18th Congress after some senators expressed concern over the lack of protections for the agriculture industry. It is now up to the 19th Congress to decide on ratification. The first day of the new session is July 25.

“(The) Department of Trade and Industry (DTI) will continue to push for the immediate ratification of the RCEP and other trade agreements. With only 10 FTAs, the Philippines has the least number of FTAs among the ASEAN six countries,” Mr. Pascual said.

“Singapore signed 27 FTAs, Malaysia 17, Thailand 15, Indonesia 15, and Vietnam 15. These agreements will diversify the country’s exports in terms of products and services and destinations and enhance the country’s attractiveness to foreign investment,” he added.

Mr. Pascual added that the Philippines will not become an attractive location for export-oriented enterprises without RCEP and FTAs.

“Most foreign investments in China, for instance, are export-oriented industries. They are from big multinationals having transferred their production facilities to China and using China as a production place. Without these FTAs and RCEP, the Philippines would not be an attractive location for such types of export-oriented enterprises,” Mr. Pascual said.

President Ferdinand R. Marcos, Jr. has said he wants an assessment of the RCEP to ensure the protections for the agriculture sector.  — Revin Mikhael D. Ochave

ShareTweetPin

Related Posts

Stocks decline on profit taking, recession fears
Investing News

Stocks decline on profit taking, recession fears

August 23, 2022
Peso climbs vs dollar as RTB offer starts
Investing News

Peso climbs vs dollar as RTB offer starts

August 23, 2022
PNR cancels bids for 3 projects after finding them ‘non-feasible’
Investing News

PNR cancels bids for 3 projects after finding them ‘non-feasible’

August 23, 2022
Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Next Post
Legislators consider new tax, privatization bills

Legislators consider new tax, privatization bills

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

Asia posts biggest 6-month drop in FX reserves since 2015-16

Asia posts biggest 6-month drop in FX reserves since 2015-16

August 2, 2022
Marcos declares July 9 a holiday for Eid’l Adha

Marcos declares July 9 a holiday for Eid’l Adha

July 6, 2022
[B-SIDE Podcast] The future is electric

[B-SIDE Podcast] The future is electric

July 25, 2022
BPO employees insist on feasibility of 100% work-from-home arrangements

BPO employees insist on feasibility of 100% work-from-home arrangements

July 25, 2022
DoST PCIEERD helps Philippine startups to succeed and expand

DoST PCIEERD helps Philippine startups to succeed and expand

August 1, 2022
ABS-CBN, TV5 partnership to face scrutiny — NTC

ABS-CBN, TV5 partnership to face scrutiny — NTC

August 11, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.