Citing its benefits to the economy, the House of Representatives on Tuesday adopted a resolution supporting the immediate ratification of the Regional Comprehensive Economic Partnership (RCEP) agreement.
CITING its benefits to the economy, the House of Representatives on Tuesday adopted a resolution supporting the immediate ratification of the Regional Comprehensive Economic Partnership agreement.
“None of these tariff lines are for products where a domestic industry is under threat. Live swine and live poultry are the closest I could think of, but it is not practical to import them in any significant way,” he said. What RCEP proposes basically is that inputs in complex products from the RCEP partner countries will be treated as domestic input, said Salceda.
If these concerns can be addressed, Salceda said the Philippines can better allay the fears of those who believe that Philippine industries, especially agriculture, will be hurt by the RCEP. “[There is also] language on providing information and promoting cooperation so that MSMEs are empowered and therefore they can maximize their benefits from RCEP,” Quimbo said.
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