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

Former Trade Secretary touts RCEP as ‘enabling’ economic recovery

by
July 31, 2022
in Investing News
0
Former Trade Secretary touts RCEP as ‘enabling’ economic recovery
0
SHARES
13
VIEWS
Share on FacebookShare on Twitter

RATIFYING the Regional Comprehensive Economic Partnership (RCEP) trade deal should be a priority because it will help accelerate the economic recovery and ensure food security, former Trade Secretary Ramon M. Lopez said.

Mr. Lopez said RCEP will help the Marcos administration achieve goals laid down in the President’s State of the Nation Address (SONA).

Regarding President Ferdinand R. Marcos, Jr.’s food security goals and promoting agriculture — “The RCEP is an enabler of those objectives… the risks of not getting RCEP ratification would be immense,” Mr. Lopez said on the sidelines of a media briefing in Pasay City last week.   

“I am confident that the thinking, even in the legislative (branch), would be supportive this time of RCEP,” he added.  

The RCEP, which started taking effect in various jurisdictions on Jan. 1, is a free trade agreement (FTA) involving Australia, China, Japan, South Korea, New Zealand and the 10 members of the Association of Southeast Asian Nations.

The Philippines has yet to finalize its participation after the Senate did not give its concurrence as the previous Congress stepped down. Some senators expressed concern over the lack of safeguards for the agriculture sector.

Mr. Lopez said that the RCEP provides more opportunities for the agriculture sector than risks.

“The RCEP’s too specific to be mentioned in the SONA. But that doesn’t mean there is no support. What is important is that the policy direction is very clear and that it is supportive of economic recovery,” Mr. Lopez said.  

“The policy pronouncements and direction-setting mentioned by the President in his SONA are good enough to ensure that RCEP will be a part of the agenda,” he added.

Trade Secretary Alfredo E. Pascual has said that the Department of Trade and Industry will push for the RCEP’s ratification and that of other FTAs to encourage more foreign investment that will aid the economic recovery.  

“Without these FTAs and RCEP, the Philippines would not be an attractive location for such types of export-oriented enterprises,” Mr. Pascual said. — Revin Mikhael D. Ochave

ShareTweetPin

Related Posts

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
Supreme Court rules petitioners have no standing in PDS ‘monopoly’ case
Investing News

Supreme Court rules petitioners have no standing in PDS ‘monopoly’ case

August 23, 2022
ERC signals planned overhaul of regulatory practices via benchmarking exercise with regional counterparts
Investing News

ERC signals planned overhaul of regulatory practices via benchmarking exercise with regional counterparts

August 23, 2022
Malaysian trade official urges PHL to sign up for RCEP  
Investing News

Malaysian trade official urges PHL to sign up for RCEP  

August 23, 2022
Next Post
PHL gross borrowing declines 40.59% at end of June

PHL gross borrowing declines 40.59% at end of June

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

MG Mall of Asia joins MG Philippines’ nationwide dealership network, and is the first MG dealership to feature a unique MG ‘Carffé’ coffee shop

MG Mall of Asia joins MG Philippines’ nationwide dealership network, and is the first MG dealership to feature a unique MG ‘Carffé’ coffee shop

August 5, 2022
Thousands cancel Netflix or Prime Video as UK cost of living soars

Thousands cancel Netflix or Prime Video as UK cost of living soars

August 5, 2022
Demand for Deliveroo hit by rising cost of living

Demand for Deliveroo hit by rising cost of living

July 19, 2022
Gambling giant Entain could lose UK licence amid record £17m fine

Gambling giant Entain could lose UK licence amid record £17m fine

August 17, 2022
Metro Manila’s retail prices accelerate in April

Metro Manila’s retail prices accelerate in April

August 18, 2022
Calculated endangerment

Calculated endangerment

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.