Senator Imee Marcos insisted that the Regional Comprehensive Economic Partnership (RCEP) will kill the local industry, particularly the agriculture sector. Her statement came a day after the treaty was sponsored by top Senate leaders on the plenary.
She also issued the remark despite the push of her brother, President Ferdinand "Bongbong" Marcos Jr., to ratify the mega trade deal.
"[S]a ilang dekadang nakalipas mula nung WTO 1994 halos wala namang tinupad sa sandamakmak na pangako," she said, referring to the General Agreement on Tariffs and Trade-World Trade Organization . Meanwhile, Senator Francis Escudero explained that he did not sign the committee report because he has not finished reading it along with its annexes.
He claimed that after RCEP took effect on January 1, 2022, countries in the ASEAN have already been reaping the benefits of the trade deal.While he cited many benefits of RCEP in other countries that are signatories to the trade agreement, Zubiri said they understand the issues and concerns of some groups of farmers who oppose its ratification.
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