Positive expectations ran high among economic managers on Wednesday after Philippine Senate's concurrence with the Marcos administration's participation in Regional Comprehensive Economic Partnership (RCEP), a mega free trade deal.
Positive expectations ran high among economic managers on Wednesday after Philippine Senate's concurrence with the Marcos administration's participation in Regional Comprehensive Economic Partnership , a mega free trade deal.with the ratification of the trade agreement, with only one "no" vote, and one abstention.
“With the strong support of Congress, yesterday’s concurrence to the RCEP Agreement is a testament to the government’s commitment to creating an environment conducive for trade and investments that are catalysts for job creation, skills development, and technology transfer as we seek to transform the Philippine economy in the next six years,” Balisacan said.
“The RCEP Agreement is an instrument that will further our economic trade with participating Asia - Pacific nations. We have to capitalize on the benefits of the Agreement, as it will help provide the Filipino people with more avenues for better economic opportunities and outcomes. All in pursuit of our Agenda for Prosperity,” she said.
At least two-thirds of the upper chamber must concur to an international agreement or treaty to make it valid and effective.
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